**Executive Summary**
India, as the 2026 BRICS Chair, is leading a renewed MSME cooperation agenda under the Partnership on the New Industrial Revolution (PartNIR). The Ministry of MSME is mandated to host three Working Group Meetings and the inaugural BRICS MSME Forum, with the first meeting held on April 24, 2026. These initiatives aim to address the MSME credit gap through financial inclusion, fintech innovation, and policy exchange among member nations.
**Key Points / Main Content**
**2026 Chairship Mandate**
* India is spearheading the BRICS MSME cooperation agenda for 2026.
* The Ministry of MSME is tasked with convening three SME Working Group Meetings.
* Plans are underway to organize the first-ever inaugural BRICS MSME Forum.
**Inaugural Working Group Meeting**
* The 1st SME Working Group Meeting was held via webinar on April 24, 2026.
* The primary focus of the session was "Access to Finance for MSMEs."
* Themes included bridging credit gaps through financial literacy and credit readiness.
* Discussions explored fintech-driven ecosystems to expand credit and facilitate seamless global trade payments.
**Strategic Objectives**
* MSMEs are recognized as critical drivers of economic growth, employment, innovation, and inclusive development.
* There is a collective emphasis on a multi-pronged approach to improve timely and adequate access to credit.
* Members aim to strengthen institutional capacities and promote innovative financing mechanisms.
* The framework encourages policy exchange among BRICS countries to address shared developmental challenges.
**Impact Analysis**
**BRICS Member Countries**
**Impact**
Member nations gain a dedicated platform for exchanging best practices and aligning policies to solve common developmental hurdles in the MSME sector.
**Action Required**
Member countries must participate in the remaining two scheduled Working Group Meetings and the upcoming inaugural BRICS MSME Forum.
**MSMEs within BRICS Economies**
**Impact**
Enterprises may benefit from improved financial inclusion, enhanced fintech ecosystems for trade payments, and more robust credit-readiness programs.
**Action Required**
MSMEs should focus on improving their "credit readiness" and financial literacy to take advantage of emerging financing mechanisms.
**Ministry of Micro, Small & Medium Enterprises (India)**
**Impact**
As the lead agency under India’s Chairship, the Ministry is responsible for driving the international cooperation agenda and fostering a competitive MSME ecosystem.
**Action Required**
The Ministry must convene two additional SME Working Group Meetings and organize the inaugural BRICS MSME Forum within the 2026 calendar year.
Key Entities Referenced
BRICS Partnership on the New Industrial Revolution (PartNIR): The overarching framework and policy agenda for renewed cooperation among BRICS member countries regarding MSMEs.
Ministry of Micro, Small & Medium Enterprises: The primary Indian ministry mandated to lead the BRICS MSME agenda, convene SME Working Group Meetings, and host the inaugural BRICS MSME Forum.
SME Working Group: A dedicated body responsible for deliberating on MSME financial inclusion, credit readiness, and fintech-driven ecosystems among BRICS nations.
BRICS MSME Forum: An inaugural high-level platform established during India's chairship to foster cooperation and policy exchange for globally competitive MSME sectors.
Ministry of Micro,Small & Medium Enterprises
INDIA ADVANCES BRICS MSME
COOPERATION UNDER ITS 2026 CHAIRSHIP
Posted On: 08 MAY 2026 1:07PM by PIB Delhi
As Chair of BRICS in 2026, India is spearheading a renewed agenda for MSME cooperation under the
BRICS Partnership on the New Industrial Revolution (PartNIR). During India’s Chairship, the Ministry of
MSME is mandated to convene three SME Working Group Meetings and the inaugural BRICS MSME
Forum.
The 1st SME Working Group Meeting (webinar) was successfully convened on 24th April 2026 with a
specialized focus on “Access to Finance for MSMEs”. The deliberations among BRICS Member
Countries centered on the themes of “Bridging the MSME Credit Gap through Financial Inclusion,
Literacy and Credit Readiness” and “Fintech-Driven Ecosystems: Expanding SME Credit and Seamless
Global Trade Payments”.The webinar witnessed active participation from BRICS Member Countries and served as an important
platform for exchanging experiences and best practices on MSME financing challenges and opportunities.
Discussions highlighted the critical role of MSMEs as key drivers of economic growth, employment
generation, innovation, and inclusive development, and underscored the persistent challenges relating to
timely and adequate access to credit. The deliberations emphasized on the need for a multi-pronged
approach to bridge the credit gap through financial inclusion and improved financial literacy and
strengthening credit capacities of MSMEs.
The Meeting further emphasized the importance of enhanced collaboration among BRICS economies to
strengthen institutional capacities, promote innovative financing mechanisms, and build a supportive
ecosystem for MSME finance. The discussions also facilitated valuable policy exchange among BRICS
Member Countries facing similar developmental challenges and reaffirmed the shared commitment
towards fostering resilient, inclusive, and globally competitive MSME sectors across BRICS economies.
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Sunil Kumar Tiwari
E-mail hipessi[at]gmail[dot]com
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