BRICS New Delhi Declaration seeks to expand export-oriented MSMEs' finance
BRICS countries are stepping up to help micro, small, and medium businesses (MSMEs) break into international trade.
Their New Delhi Declaration points out that affordable credit and working capital are big obstacles for these businesses.
BRICS welcomed new guiding principles for credit assessment of export-oriented MSMEs, which aim to use diverse data sources to reduce information gaps and expand access to formal finance.
BRICS calls for digital trade solutions
BRICS is also calling for digital solutions and a study of an Invoice Discounting Mechanism to free up cash for MSMEs.
These moves are part of a bigger plan (2026-30) focused on digitizing supply chains and making trade smoother.
The declaration highlights Special Economic Zones as game-changers for trade, pushing for simpler rules and digitized paperwork so MSMEs can compete globally.