BRICS Backs Easier Finance For MSMEs, Invoice Discounting Mechanism Under Study

Source: Free Press Journal | Original Published At: 2026-09-13 04:22:33 UTC

Key Points

• BRICS countries reaffirmed their commitment to helping micro, small and medium enterprises expand internationally through easier access to affordable finance and global trade opportunities.
• The New Delhi Declaration, adopted at the BRICS Summit chaired by India, recognized MSMEs as important contributors to economic growth, employment and prosperity across member countries.
• BRICS acknowledged that access to affordable finance remains a major structural constraint for MSMEs and backed measures to reduce financing gaps for smaller businesses.
• The grouping welcomed the BRICS Guiding Principles for Credit Assessment Frameworks for export-oriented MSMEs, aimed at improving credit-risk assessment and widening access to formal finance.
• BRICS stressed the need for innovative financing mechanisms, including digital and platform-based solutions, to make trade finance easier to access for smaller businesses.
• The grouping welcomed the Jaipur Consensus to study the establishment of an Invoice Discounting Mechanism for BRICS members, which could help MSMEs convert unpaid invoices into working capital.
• BRICS recognized the work of its SME Working Group, praised India's chairship for organizing the inaugural BRICS SME Forum in Agra, and supported holding a second SME Forum.