India uses BRICS chairship to drive focus on MSMEs and their development
The 18th BRICS Summit in New Delhi concluded with a declaration emphasizing the development and competitiveness of micro, small, and medium enterprises (MSMEs). Member nations committed to improving MSME access to finance and technology while calling for reforms in global trade institutions like the WTO and IMF.
Why it matters
The focus on MSMEs reflects a strategic effort by emerging economies to integrate smaller businesses into global value chains and foster inclusive economic growth.
The New Delhi Declaration, adopted by the BRICS nations at their 18th Summit in New Delhi on Saturday (September 12, 2026), devoted significant focus to the needs of micro, small, and medium enterprises (MSMEs) and ways to help them move up the global value chain. India is the chair of BRICS in 2026, with China taking over the chairship in 2027.
The latest declaration also carried forward most of the economic issues raised during the last Summit in Rio, including concerns about the “rise of unilateral tariff and non-tariff measures”, the “imposition of unilateral coercive measures”, trade in local currencies, and the need for reforms in the World Trade Organization (WTO), International Monetary Fund (IMF), and World Bank.
The BRICS nations also advocated for the accession of Ethiopia and Iran to the WTO.
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