India drives MSME agenda at BRICS 2026, hosts first SME finance meet
Synopsis
As BRICS Chair in 2026, India is using its presidency to reshape how the bloc's economies address one of their shared blind spots — MSME credit access. The first SME Working Group meeting, held online on 24 April, zeroed in on fintech-driven financing and financial literacy, signalling India's intent to make small business cooperation a defining legacy of its chairship.
Key Takeaways
India holds the BRICS Chairship in 2026 and is leading the MSME cooperation agenda under PartNIR .
The Ministry of MSME is mandated to convene three SME Working Group meetings and the inaugural BRICS MSME Forum this year.
The first SME Working Group Meeting was held online on 24 April 2026 , focused on access to finance for MSMEs .
Key themes included bridging the MSME credit gap through financial inclusion, literacy, and fintech-driven ecosystems .
India has signed MSME cooperation agreements with Japan , South Africa , and New Zealand to boost trade and investment ties.
India, as Chair of BRICS in 2026, is leading a focused push to deepen MSME (micro, small and medium enterprises) cooperation across member economies under the BRICS Partnership on the New Industrial Revolution (PartNIR). The Ministry of MSME has been mandated to convene three SME Working Group meetings and the inaugural BRICS MSME Forum during India's chairship year.
First SME Working Group Meeting
The first of these meetings was successfully held online on 24 April 2026, with a focused agenda on
Point of View
And BRICS collectively represents a significant share of that unmet demand. However, working group meetings and forums produce outcomes only when they translate into binding commitments or measurable financing flows. India's bilateral MSME agreements with Japan, South Africa, and New Zealand suggest a parallel track of actionable deals, which is more credible than multilateral declarations alone. The real test will be whether the inaugural BRICS MSME Forum yields a concrete financing framework — or remains another high-level exchange of best practices.
NationPress
9 May 2026
Frequently Asked Questions
What is India's role in BRICS MSME cooperation in 2026?
India holds the BRICS Chairship in 2026 and is leading the MSME cooperation agenda under the BRICS Partnership on the New Industrial Revolution (PartNIR). The Ministry of MSME has been mandated to convene three SME Working Group meetings and the inaugural BRICS MSME Forum during the year.
What happened at the first BRICS SME Working Group Meeting?
The first SME Working Group Meeting was held online on 24 April 2026, focusing on access to finance for MSMEs. Discussions centred on bridging the MSME credit gap through financial inclusion, literacy, and fintech-driven ecosystems for expanding SME credit and global trade payments.
Why is MSME financing a priority for BRICS economies?
MSMEs are recognised as key drivers of economic growth, employment, innovation, and inclusive development across BRICS member countries. However, they face persistent challenges in accessing timely and adequate credit, making financial inclusion and fintech solutions a shared priority.
Which countries has India signed MSME cooperation agreements with?
India has signed MSME cooperation agreements with Japan, South Africa, and New Zealand, aimed at boosting collaboration in the MSME sector to enhance trade and investment growth.
What is the BRICS PartNIR framework?
The BRICS Partnership on the New Industrial Revolution (PartNIR) is a cooperative framework among BRICS economies focused on industrial innovation, digitalisation, and inclusive growth, under which MSME cooperation is being pursued during India's 2026 chairship.
