Union Minister holds in the 7th BRICS Industry Ministers’ meeting

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Published on 8 August 2023 by

BRICS Startup Forum: India’s Collaborative Venture

In the virtual “7th BRICS Industry Ministers’ Meeting” chaired by South Africa, Union Minister Shri Piyush Goyal revealed India’s upcoming initiative, the BRICS Startup Forum, scheduled for a 2023 launch. The objective is to foster partnerships, share best practices, and promote collaboration among startups, investors, incubators, and aspiring entrepreneurs within the BRICS nations.

7th BRICS Industry: Shri Goyal’s Vision and India’s Role

Shri Piyush Goyal highlighted India’s transformation journey and the impactful Startup India initiative that has spurred nearly 100,000 startups in India. This aligns with India’s commitment to “Vasudhaiva Kutumbakam,” a principle signifying a connected, inclusive world. The Minister emphasized “Transforming Production Systems,” showcasing India’s willingness to aid other BRICS members and the broader global community.

Collective Agenda: BRICS Ministers’ Focus

The BRICS Industry Ministers converged on themes of digitalization, industrialization, innovation, inclusiveness, and investment. Industry 4.0 and emerging technologies gained prominence, underscoring the need for widespread digital transformation. The joint declaration highlighted their shared intent to develop human resources through upskilling and reskilling initiatives.

7th BRICS Industry: Elevating Cooperation and Inclusivity

Central to their deliberations was a commitment to deepen industrial cooperation, fostering recovery and growth in the global Industrial Economy. The focus remained on creating an open, fair, and resilient environment. Recognizing the pivotal role of Micro, Small, and Medium Enterprises (MSMEs), integration and diversification into global industrial chains were stressed. Additionally, the ministers emphasized creating market opportunities within BRICS nations for projects led by women, youth, and marginalized groups.

With shared goals and collaborative actions, the BRICS Industry Ministers are poised to drive innovation, sustainable growth, and a more interconnected global landscape.