India and Brazil have signed a Memorandum of Understanding (MoU) in the field of the Micro, Small, and Medium Enterprises (MSMEs). The MoU was exchanged in the presence of Prime Minister Narendra Modi and President of Brazil Luiz Inácio Lula da Silva in New Delhi yesterday. The Ministry of MSME in a statement said that the MoU will provide a platform for both sides to discuss the issues concerning MSMEs and explore possible areas of cooperation for mutual benefit in the two countries.

It will also provide a framework and enabling environment for the MSMEs of both countries to understand each other’s strengths, markets, technologies and policies. The MoU also seeks to create enabling conditions for advancing the green transition, including facilitating MSMEs’ access to green finance, thereby enabling their integration into global markets and value chains, improving productivity, competitiveness and strengthening their capacity for sustainable development.