India Hosts Virtual BRICS MSME Working Group — Access to Finance and Fintech Cooperation Discussed

India convened the First BRICS SME/MSME Working Group Meeting virtually on May 8, 2026 under its 2026 chairmanship, focusing on bridging the MSME credit gap across BRICS economies. The meeting addressed three thematic pillars: 'Access to Finance for MSMEs,' 'Bridging the MSME Credit Gap through Financial Inclusion, Literacy and Credit Readiness,' and 'Fintech-Driven Ecosystems for Expanding MSME Credit and Seamless Global Trade Payments.' India's Ministry of MSME led the Indian delegation, with representation from all BRICS full members. The working group is tasked with developing policy recommendations on digital lending platforms, credit guarantee schemes, and interoperable payment rails that could reduce SME dependence on correspondent banking infrastructure. The meeting advances India's broader 2026 chairmanship priority of inclusive economic development under its 'Building for Resilience, Innovation, Cooperation and Sustainability' theme. MSME financing is a critical issue for BRICS economies, which collectively account for a majority of the world's unbanked or underbanked small businesses. Outcomes from the working group will feed into ministerial-level discussions ahead of the 18th BRICS Summit in New Delhi on September 12–13, 2026.