Jaipur, Aug 2026 : Union Commerce and Industry Minister Piyush Goyal on Friday said the Centre has amended India’s Foreign Direct Investment (FDI) rules to facilitate large-scale e-commerce and expand market opportunities for micro, small and medium enterprises (MSMEs), farmers, artisans and fishermen.
Speaking to the media after the BRICS Trade and Industry Ministers’ Meeting in Jaipur, Goyal said the revised FDI framework would help products such as handloom, handicrafts, textiles, footwear and food items gain access to wider domestic and international markets through e-commerce platforms.
“We have recently amended the FDI rules to facilitate large-scale e-commerce for products such as handloom, handicrafts, textiles, footwear and various consumer goods, including food products that are commonly purchased online,” Goyal said.
He said the reforms were aimed at enabling small businesses and traditional producers to reach a much larger consumer base by using digital commerce platforms. The initiative, he added, would create new avenues for farmers, fishermen, artisans and small enterprises to expand their businesses and increase their market reach.
Goyal said India intends to leverage e-commerce as an important tool for connecting products manufactured or produced by small enterprises with consumers across the country and overseas markets.
His remarks came following meetings of the BRICS Trade and Industry Ministers, where member countries discussed ways to strengthen trade and investment, promote digital commerce, enhance industrial cooperation and improve financing opportunities for MSMEs.
The Industry Ministers’ meeting held on Thursday, chaired by India, focused on the role of emerging technologies in generating employment and creating new economic opportunities. Goyal said extensive discussions were held on the potential of technologies such as Artificial Intelligence (AI) and quantum computing to accelerate industrial development and economic growth across BRICS economies.
The Commerce Ministers’ meeting on Friday focused on strengthening trade flows between BRICS countries and improving the business environment for small enterprises.
According to Goyal, the ministers discussed ways to enhance bilateral trade, particularly imports and exports, while ensuring that MSMEs have adequate access to financing through banks and other financial institutions.
The meeting also highlighted the importance of digital transformation in simplifying and modernising international trade. Ministers discussed greater adoption of digital technologies to make trade processes increasingly paperless, improve operational efficiency and reduce regulatory complexities for businesses.
Goyal said stronger digital infrastructure and simplified procedures could help businesses, particularly smaller enterprises, participate more effectively in international commerce.
The discussions are part of India’s broader efforts to deepen economic cooperation among BRICS members while creating greater opportunities for domestic businesses through trade, investment, technology and digital transformation.
The revised FDI framework, combined with expanding e-commerce infrastructure, is expected to provide Indian MSMEs, artisans, farmers and other small producers with new channels to access consumers and compete in increasingly integrated domestic and global markets.
