FIEO Signs MoU with BRISKPE to Empower Indian Exporters

The Federation of Indian Export Organisations (FIEO) has signed a Memorandum of Understanding (MoU) with BRISKPE, a cross-border payments and banking platform, to strengthen India’s export ecosystem. The collaboration aims to provide Indian exporters, especially MSMEs and startups, with faster, cost-efficient, and secure payment solutions for global trade

Key Highlights of the MoU

• Parties Involved:
  • FIEO – Apex body set up jointly by the Ministry of Commerce & Industry and private trade & industry.
  • BRISKPE – Fintech platform offering cross-border payment and banking solutions.
• Objective:
  • To simplify international trade payments.
  • Enhance financial access for exporters, MSMEs, and startups.
  • Reduce delays and transaction costs in cross-border settlements.
• Scope:
  • Providing exporters access to transparent foreign exchange rates.
  • Enabling seamless settlement of global invoices.
  • Supporting India’s vision of boosting exports to $2 trillion by 2030.

Significance of the Partnership

1. Empowering MSMEs – Small businesses often face hurdles in international transactions; this MoU will help bridge that gap.
2. Ease of Doing Business – Faster settlements and reduced banking hassles mean better efficiency for exporters.
3. Strengthening Atmanirbhar Bharat – Supports India’s push for becoming a global export hub.
4. Digital Trade Push – Aligns with the government’s emphasis on fintech and digital trade facilitation.

About the Organisations

• FIEO: Represents Indian exporters in global markets, policy advocacy, and trade facilitation.
• BRISKPE: Specialises in fintech-driven cross-border solutions, ensuring secure and compliant global payments.

UPSC Relevance

• Prelims:
  • FIEO – its role and mandate.
  • BRISKPE – fintech for cross-border trade.
• Mains (GS-3 – Economy):
  • Challenges faced by Indian exporters in global trade.
  • Role of fintech in boosting India’s exports and MSME competitiveness.

Conclusion

The FIEO–BRISKPE MoU represents a significant step towards strengthening India’s export competitiveness by making cross-border transactions smoother and cost-efficient. It is expected to empower exporters, particularly MSMEs, in contributing to India’s vision of becoming a $5 trillion economy and global trade leader.