The role of TReDS is set to go up significantly: M1xchange's Mohindru

M1xchange, the Trade Receivables e-Discounting System (TReDS) platform for invoice discounting, in FY25 recorded business of over ₹78,000 crore, up 100 per cent from the previous year. Higher US tariffs are expected to impact micro, small and medium enterprises (MSMEs); and TReDS’ role in financing the sector will become more critical. Sundeep Mohindru, founder-director of M1xchange, interacted with Raghu Mohan via email on the issues facing MSMEs. Edited excerpts: 

What do you think will be the impact of the higher tariff regime on MSMEs? 

This will reshape trade flows and cost structures, and MSMEs will feel the impact first. For