Jaipur, Aug 8: India has reaffirmed its push for a more balanced and inclusive global trading system, with the interests of farmers, micro, small and medium enterprises (MSMEs) and small businesses placed at the centre of its approach to international trade.
A proud day for India’s BRICS Chairship 🇮🇳
At the 16th BRICS Trade Ministers’ Meeting in Jaipur, reaffirmed India’s commitment to balanced trade and expanding avenues in the services sector for our people, while keeping the interests of our farmers, MSMEs and small businesses at… pic.twitter.com/ArkgRsq93G
— Piyush Goyal (@PiyushGoyal) August 7, 2026
The message was highlighted at the 16th BRICS Trade Ministers’ Meeting in Jaipur, where India stressed the need to expand trade opportunities while ensuring that the benefits of global commerce reach a wider section of the economy.
India also emphasised the importance of expanding opportunities in the services sector, which has become an increasingly important source of employment, exports and economic growth for the country.
For India, services ranging from information technology and professional services to business support and emerging digital industries represent a major opportunity to strengthen its position in global markets.
At the same time, the government stressed that greater international market access should not come at the expense of domestic producers. Farmers, artisans, MSMEs and small businesses remain important parts of the country’s economic base and need a trading environment that provides opportunities while protecting legitimate interests.
The discussions at the BRICS meeting also reflected the changing nature of international trade, with digital commerce, technology, investment and cross-border business increasingly shaping global economic relationships.
A fair and rules-based multilateral trading system can provide smaller businesses with greater certainty as they seek to enter new markets. For MSMEs in particular, improved trade access, easier procedures and better financial support could help them expand beyond local markets.
India’s emphasis on balanced trade also comes at a time when global supply chains and trading relationships are undergoing significant changes. Diversifying markets and strengthening economic partnerships have become increasingly important for businesses seeking long-term growth.
For Indian farmers and small enterprises, the larger objective is to turn international trade into a practical opportunity — one that can help increase market access, support incomes, create jobs and encourage entrepreneurship.
The BRICS discussions therefore underline India’s broader effort to combine global economic integration with domestic priorities, ensuring that the country’s growing participation in international trade remains inclusive, balanced and supportive of grassroots businesses.
