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New Delhi
As Chair of the BRICS in 2026, India is focusing on strengthening cooperation among micro, small and medium enterprises under the BRICS Partnership on the New Industrial Revolution (PartNIR). The initiative aims to boost trade, innovation, and inclusive economic growth across member nations.
The Ministry of MSME has been tasked with organising three SME working group meetings along with the inaugural BRICS MSME Forum during India’s chairship period. These platforms are intended to enhance policy coordination and share best practices among member countries.
The first SME Working Group Meeting was held online on April 24, 2026, with a special focus on “Access to Finance for MSMEs.” Discussions centred on bridging the credit gap through financial inclusion, improving financial literacy, and strengthening credit readiness among small businesses.
Another key theme was the role of fintech in expanding SME access to credit and enabling smoother cross-border trade payments. Representatives from BRICS countries shared experiences on overcoming financing challenges faced by MSMEs and explored innovative solutions.
Participants highlighted that MSMEs remain a major driver of employment, innovation, and economic development, but continue to face difficulties in accessing timely and adequate credit. The meeting emphasised the need for stronger financial ecosystems and institutional support.
The discussions also reinforced the importance of cooperation among BRICS economies to build resilient and globally competitive MSME sectors. Policy exchange and collaborative frameworks were identified as key tools for future growth.
India has also signed agreements with countries such as Japan, South Africa, and New Zealand to enhance MSME collaboration, aiming to improve trade and investment opportunities.
The MSME sector remains a crucial pillar of India’s manufacturing and industrial base, and the government is actively promoting its expansion as part of its broader inclusive growth strategy.