India Advances BRICS MSME Cooperation Under 2026 Chairship

12 May 2026 CW Team

Deliberations among BRICS member countries centred on bridging the MSME credit gap through financial inclusion, financial literacy and credit readiness, and on fintech-driven ecosystems to expand SME credit and facilitate seamless global trade payments. The webinar provided a platform for exchanging experiences and best practices on financing challenges and opportunities for MSMEs. Participants noted the central role of MSMEs as drivers of economic growth, employment generation, innovation and inclusive development.

The meeting underscored persistent challenges in timely and adequate access to credit and emphasised the need for a multi-pronged approach to bridge the gap through financial inclusion, improved financial literacy and strengthened credit capacities of MSMEs. Delegates called for enhanced collaboration across BRICS economies to build institutional capacity, promote innovative financing mechanisms and create a supportive ecosystem for MSME finance. Policy exchanges sought to identify scalable solutions that can be adapted across jurisdictions.

Discussions reaffirmed a shared commitment to foster resilient, inclusive and globally competitive MSME sectors across BRICS and to translate dialogue into policy action and capacity building. The ministry will proceed with the scheduled meetings and the inaugural forum to consolidate best practices and promote cooperative frameworks for MSME financing and growth. Continued engagement is expected to support sustainable development objectives and strengthen regional economic ties.

India, as chair of BRICS in 2026, is spearheading a renewed agenda for micro, small and medium enterprises (MSMEs) under the BRICS Partnership on the New Industrial Revolution (PartNIR). The Ministry of Micro, Small and Medium Enterprises has been mandated to convene three SME working group meetings and the inaugural BRICS MSME Forum during its chairship. The first SME working group meeting was convened on 24 April 2026 as a webinar with a specialised focus on access to finance for MSMEs. Deliberations among BRICS member countries centred on bridging the MSME credit gap through financial inclusion, financial literacy and credit readiness, and on fintech-driven ecosystems to expand SME credit and facilitate seamless global trade payments. The webinar provided a platform for exchanging experiences and best practices on financing challenges and opportunities for MSMEs. Participants noted the central role of MSMEs as drivers of economic growth, employment generation, innovation and inclusive development. The meeting underscored persistent challenges in timely and adequate access to credit and emphasised the need for a multi-pronged approach to bridge the gap through financial inclusion, improved financial literacy and strengthened credit capacities of MSMEs. Delegates called for enhanced collaboration across BRICS economies to build institutional capacity, promote innovative financing mechanisms and create a supportive ecosystem for MSME finance. Policy exchanges sought to identify scalable solutions that can be adapted across jurisdictions. Discussions reaffirmed a shared commitment to foster resilient, inclusive and globally competitive MSME sectors across BRICS and to translate dialogue into policy action and capacity building. The ministry will proceed with the scheduled meetings and the inaugural forum to consolidate best practices and promote cooperative frameworks for MSME financing and growth. Continued engagement is expected to support sustainable development objectives and strengthen regional economic ties.

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