India to work with BRICS partners to expand opportunities for women-led enterprises in global trade

Union Minister of Commerce and Industry Piyush Goyal has called upon BRICS countries to work together to expand opportunities for women entrepreneurs and women-led enterprises in international trade, stressing the need for easier access to credit, markets and predictable rules of business. Addressing the BRICS WBA Women-Led Development Conference in New Delhi as the Chief Guest, he said that an entrepreneur seeking to enter international business has to cross three key borders: access to credit, access to buyers and markets, and access to predictable rules that encourage free trade and open opportunities.

Goyal said India would like to bring the lessons learnt from its experience in addressing the challenges faced by entrepreneurs, particularly women entrepreneurs, to the BRICS Women’s Business Alliance and the larger BRICS business engagement. He said India has focused on empowering women financially, socially and through education, skills and improved quality of life, with the objective of making women the drivers of the country’s growth.

Highlighting India’s experience in expanding financial inclusion among women, Goyal noted that around twelve years ago, most women, particularly in rural India, did not have bank accounts, assets in their own names or credit histories and were often not eligible for loans. He said India has since put houses in the names of women, opened nearly 300 million bank accounts for them and provided collateral-free loans to women seeking to start their own work, including those without a credit history.

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