India pushes stronger BRICS MSME cooperation under its 2026 chairship
New Delhi: India has begun advancing a renewed agenda for micro, small and medium enterprise (MSME) cooperation under its 2026 chairship of BRICS, with a focus on improving access to finance and strengthening collaboration among member nations.
As part of its leadership role under the BRICS Partnership on the New Industrial Revolution (PartNIR), Ministry of MSME has been tasked with organising three SME Working Group meetings and the inaugural BRICS MSME Forum during the year.
The first SME Working Group meeting was held virtually on April 24, focusing on the theme of “Access to Finance for MSMEs.” Discussions during the webinar centred on bridging the MSME credit gap through financial inclusion, financial literacy and credit readiness, along with the role of fintech-driven ecosystems in expanding SME credit access and enabling seamless global trade payments.
The meeting saw participation from all BRICS member countries and served as a platform for sharing experiences, policy approaches and best practices related to MSME financing challenges and opportunities.
Delegates highlighted the importance of MSMEs as key drivers of economic growth, innovation, employment generation and inclusive development across BRICS economies. However, participants also acknowledged that inadequate and delayed access to credit continues to remain a major challenge for small businesses.
The discussions stressed the need for a multi-pronged strategy to strengthen financial inclusion, improve financial literacy and build the credit preparedness of MSMEs. Participants also emphasised the role of digital financial technologies and innovative financing mechanisms in expanding credit access and facilitating smoother trade transactions.
The Ministry said the meeting underlined the importance of stronger cooperation among BRICS countries to enhance institutional capacities and create supportive ecosystems for MSME growth. The deliberations also reaffirmed the bloc’s shared commitment to building resilient, inclusive and globally competitive MSME sectors.
(DD News)
