Union Minister of Commerce and Industry Piyush Goyal announced that India will be launching the BRICS Startup Forum in 2023 with the goal of facilitating collaboration and sharing best practices among startups, investors, incubators, and aspiring entrepreneurs.
Goyal participated in the “7th BRICS Industry Ministers’ meeting” hosted virtually with South Africa as the Chair on Monday (7 August).
The Commerce Minister, while highlighting the transformation that has taken place in India, also commented on the expanding Startup India initiative that has led to the creation of nearly 100,000 startups in the country.
The minister focused on “Transforming Production Systems” and the support India can offer to other BRICS members and the wider international community, the Commerce Ministry said in a statement.
Goyal reiterated India’s commitment to "Vasudhaiva Kutumbakam" (‘The World Is One Family’) which underscores India's commitment to being a responsible global citizen and working towards a more inclusive, tolerant and interconnected world.
The Industry ministers of other BRICS countries (Brazil, Russia, China and South Africa) also attended the meeting and the Joint Declaration was adopted.
According to the Commerce Ministry statement, the ministers re-emphasised on the need for digitalization, industrialization, innovation, inclusiveness, and investment among BRICS countries.
"They recognized the increasing importance of Industry 4.0 and other emerging technologies in promoting digital transformation of all economic sectors," the ministry said.
"Through the declaration, the BRICS members acknowledged the need for human resource development and exploring opportunities for cooperation on upskilling and reskilling programs," it added.
The ministers reiterated their commitment to deepen industrial cooperation and expedite the recovery and growth of the Industrial Economy through jointly creating an open, fair, vibrant, resilient and non-discriminatory environment.
The Ministers recognised the key role of Micro, Small and Medium Enterprises (MSMEs) and the importance of their integration and diversification into global industrial chains, supply chains and value chains, it said.
An appeal from Swarajya
At Swarajya, we rely on our readers' support through subscriptions to sustain our media platform. Unlike larger conglomerates, we are unable to relentlessly chase advertising money — our model is largely built on your patronage.
Your support has never been more crucial. We work tirelessly to deliver 10-15 high-quality articles daily, ensuring you receive insightful content from 7 AM to 10 PM.
If you believe India's story has to be articulated in a way it has never been done before without shrugging it off, become a patron (or) subscribe now for ₹̶2̶4̶0̶0̶ ₹1999 and get 12 print issues, unlimited digital access for 1 year, a special India that is Bharat T-shirt (Offer ends soon).
We are counting on you!