India to launch BRICS start-up forum, Piyush Goyal participates in 7th Industry Minister’s meet

New Delhi [India]: Union Minister of Commerce and Industry, Piyush Goyal, represented India at the virtual “7th BRICS (Brazil, Russia, India, China and South Africa) Industry Minister’s Meeting,” hosted with South Africa as the Chair.

During the meeting, Goyal announced India’s plans to launch the BRICS Startup Forum in 2023, aimed at fostering collaboration and knowledge-sharing among start-ups, investors, incubators and aspiring entrepreneurs across the member nations.

Highlighting India’s progress, Minister Goyal underscored the remarkable growth of the start-up India initiative, which has nurtured the establishment of nearly 100,000 start-ups within the country.

Emphasizing the theme of “Transforming Production Systems,” he expressed India’s willingness to extend support and share insights with fellow BRICS members and the global community.

In his address, Piyush Goyal reiterated India’s commitment to the principle of “Vasudhaiva Kutumbakam,” emphasizing the nation’s role as a responsible global citizen dedicated to fostering a more inclusive, tolerant and interconnected world.

The Industry Ministers from Brazil, Russia, China, and South Africa also participated in the meeting, culminating in the adoption of a Joint Declaration.

Among the key points discussed were the imperatives of digitalization, industrialization, innovation, inclusiveness and investment within the BRICS countries.

The declaration highlighted the growing significance of Industry 4.0 and emerging technologies in driving digital transformation across diverse economic sectors.

The BRICS members acknowledged the importance of human resource development and cooperation on upskilling and reskilling programs to facilitate technological adaptation.

Further cementing their commitment to deepening industrial cooperation, the ministers emphasized a shared goal of expediting the recovery and growth of the Industrial Economy.

They pledged to create an environment characterized by openness, fairness, vibrancy, resilience, and non-discrimination.

Recognizing the pivotal role of Micro, Small, and Medium Enterprises (MSMEs), the ministers emphasized the necessity of integrating and diversifying these entities into global industrial chains, supply chains, and value chains.

The importance of generating market opportunities within BRICS nations for projects owned or managed by women, youth and marginalized groups was also underscored.