BRICS delegates arrive in Agra for three-day MSME meet

What Happened

• The First BRICS MSME Forum and Third SME Working Group Meeting were held in Agra, Uttar Pradesh on June 19, 2026, under India's BRICS Chairship for 2026.
• Approximately 60 delegates from BRICS member and partner nations — including Brazil, China, Russia, South Africa, Egypt, Saudi Arabia, UAE, Indonesia, and Vietnam — participated, with nearly 150 officials in total attendance.
• The overarching theme of the forum was "Building for Resilience, Innovation, Cooperation and Sustainability," with the SME Working Group meeting focusing on "Building MSME Ecosystem — Sustainable Roots to Global Routes."
• Private sector stakeholders deliberated on three key sub-themes: Access to Finance for MSMEs, Technology Access for MSMEs, and Growth of Sustainability-Oriented MSMEs.
• The forum also showcased Agra's export-oriented footwear manufacturing sector through an industrial exhibition and factory tour, highlighting India's MSME competitiveness.
• Union Minister Jitan Ram Manjhi and Uttar Pradesh Minister Bhupendra Chaudhary attended the event.

Static Topic Bridges

BRICS: Origins, Expansion, and Institutional Architecture

The BRICS grouping originated as a concept coined by Goldman Sachs economist Jim O'Neill in 2001 to describe the fast-growing emerging economies of Brazil, Russia, India, China, and South Africa. The formal grouping came together at the first BRIC Summit in Yekaterinburg, Russia in June 2009, with South Africa joining in 2010 to make it BRICS. In January 2024, BRICS was significantly expanded: Egypt, Ethiopia, Iran, Saudi Arabia, and the UAE were admitted as full members. Indonesia joined in 2025. The grouping now represents a substantial share of global GDP, population, and trade.

MSMEs in India: Definition, Role, and Policy Framework

Micro, Small and Medium Enterprises (MSMEs) are defined under the MSME Development (Amendment) Act 2020, which revised the criteria from investment-only to a composite investment-plus-turnover basis. MSMEs are the backbone of India's economy, contributing approximately 30% of GDP, over 45% of exports, and employing over 11 crore people. The Ministry of Micro, Small and Medium Enterprises is the nodal ministry.

India's BRICS Chairship 2026

India holds the BRICS Chairship for 2026 and has designated "Strengthening Multilateralism for Just Global Development and Security" as its overarching Chairship theme. As the Chair, India presides over and sets the agenda for all BRICS meetings, summits, and working groups during the year. The first BRICS Sherpa meeting under India's Chairship was held in New Delhi in early 2026.

New Development Bank (NDB)

The NDB, also called the BRICS Bank, was established by the BRICS nations under the Fortaleza Declaration (2014). It funds sustainable infrastructure and development projects in member and non-member countries. Its initial authorised capital is $100 billion. Headquartered in Shanghai, with a regional office in Johannesburg, the NDB has expanded its membership beyond the original five BRICS nations.

Key Facts & Data

• Event: First BRICS MSME Forum + Third SME Working Group Meeting
• Date: June 19, 2026; Location: Agra, Uttar Pradesh
• Delegates: ~60 from BRICS nations; ~150 total officials
• Participating countries: Brazil, China, Russia, South Africa, Egypt, Saudi Arabia, UAE, Indonesia, Vietnam (among others)
• India's BRICS Chairship year: 2026; theme: "Strengthening Multilateralism for Just Global Development and Security"
• Forum theme: "Building for Resilience, Innovation, Cooperation and Sustainability"
• SME Working Group theme: "Building MSME Ecosystem — Sustainable Roots to Global Routes"
• Sub-themes: Access to Finance, Technology Access, Sustainability-Oriented MSMEs
• MSME definition (2020): Micro (≤Rs 1 cr investment, ≤Rs 5 cr turnover); Small (≤Rs 10 cr, ≤Rs 50 cr); Medium (≤Rs 50 cr, ≤Rs 250 cr)
• NDB: established 2014, HQ Shanghai, authorised capital $100 billion
• CRA: $100 billion forex liquidity pool among BRICS nations