India is gearing up to introduce a novel platform within the BRICS framework—a startup forum. This initiative, announced by Commerce and Industry Minister Piyush Goyal during the virtual BRICS Industry Ministers’ meeting, aims to facilitate cooperation, knowledge exchange, and collaborative efforts among investors, incubators, and budding entrepreneurs across Brazil, Russia, India, China, and South Africa.
BRICS Startup Forum for Collaboration
Commerce and Industry Minister Piyush Goyal disclosed India’s intention to launch a BRICS startup forum later this year. The forum is designed to encourage and strengthen collaboration among BRICS member countries, fostering exchanges between investors, incubators, and aspirant entrepreneurs.
India’s Startup India Initiative as a Model
Highlighting the accomplishments of India’s Startup India initiative, Goyal showcased the creation of nearly 100,000 startups within India. He affirmed India’s willingness to offer support and insights to fellow BRICS nations, drawing from the country’s experience in fostering a thriving startup ecosystem.
Joint Declaration of Industry Ministers
The virtual meeting of BRICS Industry Ministers culminated in a joint declaration, emphasizing the significance of digitalization, industrialization, innovation, inclusivity, and investment within the BRICS economies. Acknowledging the transformative potential of Industry 4.0 and emerging technologies in driving digital transformation across sectors, the ministers underscored the importance of human resource development.
The declaration also underscored the necessity of upskilling and reskilling programs for human resource development. Additionally, the ministers stressed the creation of market opportunities that promote inclusive growth, particularly for projects led by women, youth, and marginalized groups.
About BRICS
BRICS represents a coalition of five major emerging economies—Brazil, Russia, India, China, and South Africa. The acronym signifies a platform for these nations to collaborate on global economic, political, and developmental challenges. Collectively, BRICS nations wield considerable influence in terms of population, landmass, and economic output. Established in 2009, BRICS seeks to drive mutual growth, influence global governance, and amplify the role of emerging economies in shaping international policies and initiatives.
