Union Minister for Commerce and Industry Piyush Goyal has called on BRICS member countries to strengthen cooperation to expand international trade opportunities for women entrepreneurs and women-led enterprises. Addressing the BRICS Women’s Business Alliance (WBA) Women-Led Development Conference in New Delhi, Goyal emphasised the importance of improving access to finance, international markets and predictable business regulations.
The Minister identified three major barriers faced by entrepreneurs seeking to enter global markets—access to credit, access to buyers and markets, and predictable rules that support open and fair trade. He said India was ready to share its experience in empowering women through financial inclusion, education, skill development and entrepreneurship with the BRICS platform.
India’s Progress in Women’s Economic Empowerment
Highlighting India’s efforts, Goyal said the country has made substantial progress in expanding financial access for women. Over the past decade, nearly 300 million bank accounts have been opened for women, while housing assets have increasingly been registered in women’s names. Collateral-free lending has also enabled women without established credit histories to begin income-generating activities.
Around 100 million rural women are now associated with nearly nine million self-help groups, cooperatives and other collective enterprises. The number of women earning more than Rs 1 lakh annually through their own income has crossed 30 million. These successful women entrepreneurs are widely recognised as ‘Lakhpati Didis’.
Goyal also noted that India has extended around 560 million loans to small entrepreneurs, with women receiving more than 68 per cent of these loans. He said the objective is to make women economically independent and enable them to become active contributors to national growth.
Expanding Access to International Markets
The Minister proposed greater cooperation among BRICS countries to help women-owned businesses find international buyers. Referring to the Jaipur Consensus, he said BRICS members had agreed to explore a common platform for international trade that could connect businesses, display product requirements and facilitate commercial transactions.
Such a platform, he said, could also bring financial institutions and intermediaries into the ecosystem, making it easier for women entrepreneurs and small businesses to access trade finance.
Goyal further suggested that BRICS countries should increase the participation of women-led enterprises in exhibitions, trade fairs, conferences and buyer-seller meets. He proposed sector-specific women-led business delegations, including initiatives focused on textiles and other industries, to help businesses build international connections and integrate into global value chains.
Simplifying Trade Rules
Addressing the need for greater predictability, Goyal called for wider adoption of digital trade documentation, including electronic invoices, bills of lading and customs declarations. He said simplifying procedures and reducing documentation could significantly improve the ease of doing business for smaller enterprises.
He urged women entrepreneurs to identify specific regulatory hurdles and propose practical solutions alongside their concerns. Such feedback, he said, would help governments design simpler and more effective policies.
Leveraging India’s Digital and Local Platforms
Goyal highlighted the Government e-Marketplace (GeM) as an example of how transparent digital procurement can create opportunities for women-led enterprises. He said women entrepreneurs from distant parts of India are increasingly able to supply even small-value consignments to government institutions.
He also pointed to the One District, One Product initiative, which promotes distinctive products and services from districts across India and aims to transform them into globally competitive offerings. Fresh produce, food processing, traditional products and local cuisines, he said, can generate new export opportunities for women and small producers.
Focus on Services and the Digital Economy
Goyal said services trade among BRICS countries remains an area with substantial untapped potential. With global services trade approaching $10 trillion, he stressed that women entrepreneurs could play an important role in digital services, mobility and other emerging sectors.
He also called for implementation of the proposed Women’s Advancement Fund and stronger participation of women-owned enterprises in BRICS trade initiatives.
Concluding his address, Goyal said collective action, dialogue and diplomacy were essential for navigating global trade uncertainties. He expressed confidence that greater participation of women in international commerce would contribute significantly to economic growth.
Quoting Prime Minister Narendra Modi, Goyal said, “When women prosper, the world prospers,” and expressed confidence that women entrepreneurs would play a central role in shaping a more prosperous global economy.
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Author: Shivam
Shivam Dwivedi is a senior journalist with extensive experience in research-driven journalism, policy communication, and multi-platform storytelling. His areas of interest include international relations, defence, science & technology, education, urban development, agriculture, spirituality, and environmental sustainability. His work focuses on in-depth analysis, public discourse, and impactful narratives across governance and development sectors, with a strong commitment to the Sustainable Development Goals (SDGs). Contact: [email protected]
