India on Friday convened the first BRICS SME Working Group Meeting under its 2026 BRICS Chairship, with discussions focused on improving access to finance for micro, small and medium enterprises (MSMEs) across BRICS economies.
According to the Ministry of Micro, Small and Medium Enterprises, India has launched a renewed cooperation agenda for MSMEs under the BRICS Partnership on the New Industrial Revolution (PartNIR) as part of its Chairship responsibilities for 2026.
As part of this agenda, the Ministry of MSME will organise three SME Working Group Meetings along with the inaugural BRICS MSME Forum during India’s Chairship.
The first SME Working Group Meeting was held virtually on April 24, 2026, with the central theme of “Access to Finance for MSMEs.”
Discussions among BRICS member nations focused on addressing the MSME credit gap through financial inclusion, stronger financial literacy, and improved credit readiness. Another major area of discussion was the role of fintech-driven ecosystems in expanding credit access for small businesses and enabling smoother global trade payments.
The meeting saw active participation from BRICS member countries and served as a platform for exchanging experiences, policy perspectives, and best practices around MSME financing challenges and emerging opportunities.
According to the ministry, the discussions reinforced the importance of MSMEs as major contributors to economic growth, employment generation, innovation, and inclusive development. At the same time, participants acknowledged the continued challenge of ensuring timely and adequate access to credit for the sector.
The deliberations highlighted the need for a broader approach to narrowing the credit gap, including deeper financial inclusion, stronger financial awareness, and improved institutional support to enhance MSME creditworthiness.
The meeting also underlined the importance of greater cooperation among BRICS economies to strengthen institutional capabilities, encourage innovative financing models, and create a more supportive ecosystem for MSME financing.
The ministry said the discussions enabled meaningful policy exchange among countries dealing with similar development challenges and reflected a shared commitment to building resilient, inclusive, and globally competitive MSME sectors across BRICS economies.
