Blitz Bureau
NEW DELHI: India and Brazil have signed a Memorandum of Understanding (MoU) to deepen cooperation in the Micro, Small and Medium Enterprises (MSME) sector and advance sustainable development initiatives, including the green transition.
The agreement was signed during the ongoing visit of Brazilian President Luiz Inacio Lula da Silva to India. The MoU was inked between India’s Ministry of MSME and Brazil’s Ministry of Entrepreneurship, Micro and Small Enterprises, reflecting the growing economic engagement between the two countries.
The MoU aims to create a structured platform for dialogue on issues related to MSMEs and to explore new avenues of cooperation for the mutual benefit of enterprises in both nations. It is expected to provide an enabling framework for MSMEs to better understand each other’s strengths, market dynamics, technologies and policy environments.
The Ministry said the agreement will help foster stronger linkages between Indian and Brazilian MSMEs, encouraging collaboration, knowledge exchange and partnerships across sectors.
A key focus of the MoU is advancing the green transition. The agreement seeks to facilitate MSMEs’ access to green finance and promote sustainable business practices, enabling them to integrate more effectively into global markets and value chains. It is also aimed at enhancing productivity, improving competitiveness and strengthening the capacity of MSMEs for sustainable development.