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India Uses BRICS Chairship to Drive Focus on MSMEs and Their Development

India uses BRICS chairship to drive focus on MSMEs and their development
Countries
ChinaEthiopiaIndiaIran
Cooperation areas
Economic GrowthInclusive MultilateralismInstitutional Development

Source: The Hindu | Original Published At: 2026-09-12 13:21:10 UTC

Key Points

  • India's 2026 BRICS chairship prioritized MSME development, including the inaugural BRICS SME Forum in Agra and a report on advancing MSME competitiveness.
  • The declaration identified access to affordable finance as a major constraint for MSMEs and promoted digital and platform-based solutions for trade finance.
  • BRICS welcomed the Jaipur Consensus to study an invoice discounting mechanism to help MSMEs unlock working capital and participate in international trade.
  • BRICS voiced concern over unilateral tariff and non-tariff measures and condemned unilateral coercive measures, including economic and secondary sanctions.
  • The BRICS nations reaffirmed support for WTO, IMF, World Bank, UN, and UN Security Council reforms to improve representation of emerging markets and developing economies.
  • BRICS supported Ethiopia's and Iran's bids for WTO accession and acknowledged China's expanded zero-tariff treatment for African countries with diplomatic ties.
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