New Delhi, June 2: The government has announced that India and South Africa have engaged in discussions to enhance collaboration in the MSME sector. Both nations acknowledged the critical role this sector plays in economic growth, job creation, and inclusive development.
An official statement revealed that the two sides explored potential areas of cooperation. These include improving access to finance, promoting the formalization of enterprises, accelerating digitization, and strengthening entrepreneurship and skill development in MSME growth.
The meeting was held at the Ministry of Micro, Small and Medium Enterprises (MSME) and was chaired by MSME Minister Jitan Ram Manjhi. The South African delegation was led by Minister of Small Business Development Stella Tembisa Ndabeni.
The statement further emphasized that this meeting reflects the shared commitment of India and South Africa to deepen bilateral engagement. Both countries aim to create a supportive environment for the development and competitiveness of MSMEs.
Additionally, there is a need for a multi-dimensional approach to integrate MSMEs into regional and global value chains. This approach will focus on enhancing digital inclusion, strengthening innovation capabilities, and improving the technological readiness of MSMEs.
The MSME Ministry also hosted the second ‘SME Working Group Meeting’ under the ‘BRICS Partnership on New Industrial Revolution.’ This meeting saw active participation from BRICS countries, providing a platform for sharing experiences and best practices. It highlighted the role of MSMEs in economic development, job creation, innovation, and inclusive growth.
The meeting reiterated the importance of deepening cooperation in technology access, innovation ecosystems, and skill development for MSMEs among BRICS economies.
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