‘Connect small entrepreneurs with knowledge, finance, new markets’: PM Modi on Brics MSME portal

Prime Minister Narendra Modi on Sunday said India has launched a Brics MSME Cooperation Portal to connect small entrepreneurs with knowledge, finance and new markets, as New Delhi used its 2026 chairship to push greater cooperation among micro, small and medium enterprises.

Addressing the 18th Brics Summit in New Delhi, Modi said India wanted cooperation within the grouping to extend beyond governments.

“Our entrepreneurs, farmers, researchers, women, youth and ordinary citizens should also become active participants in it,” Modi said.

The portal is part of India’s broader push to help MSMEs gain access to finance, technology and international markets and become more integrated into global value chains.

The New Delhi Declaration, adopted by Brics leaders on Saturday, acknowledged the work of the Brics SME Working Group and commended India for convening the first Brics SME Forum in Agra.

“We reaffirm our commitment to strengthening the internationalisation of MSMEs as a driver of economic growth and prosperity,” the declaration said.

It identified access to affordable finance as a key bottleneck limiting MSMEs’ participation in trade and integration into global value chains.

Invoice discounting mechanism

A key measure outlined in the declaration is the Jaipur Consensus, under which Brics countries will study the establishment of an invoice discounting mechanism for member countries.

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Such a mechanism could help MSMEs unlock working capital tied up in unpaid invoices, potentially easing cash-flow constraints as businesses expand their supply chains and overseas operations.

The declaration said better access to finance and technology would help MSMEs participate more effectively in trade and global value chains.

Startups, technology in focus

Modi also highlighted Brics Connect, an initiative focused on skills, women’s workforce participation, social security and capacity building.

The grouping has established a Brics Incubator Network to connect startups and incubators across member countries, while India has proposed a Brics Startup Innovation Fund to support innovative and scalable solutions.

The declaration also backed cooperation in manufacturing, special economic zones, logistics, customs facilitation, railways, aviation and industrial upgrading.

Trade barriers raise concerns

The MSME push comes amid concerns over rising trade barriers. The New Delhi Declaration expressed concern over unilateral tariff and non-tariff measures, saying they could distort trade, disrupt global supply chains and increase uncertainty for businesses.

Brics reaffirmed its support for a rules-based multilateral trading system with the WTO at its core and called for greater representation of emerging markets in global economic institutions.

The declaration also called for reforms of the IMF and World Bank and backed Ethiopia and Iran’s bids for WTO accession.

As the Brics Summit enters its second and final day on Sunday, India’s MSME agenda puts a concrete business focus on its 2026 chairship, with emphasis on improving access to finance, technology and international markets.

China will take over the Brics chairship in 2027.