India to Launch BRICS Startup Forum in 2023 to Boost Collaboration Among Entrepreneurs, Investors & Incubators
Union Minister of Commerce and Industry, Textiles, Consumer Affairs and Food & Public Distribution, Piyush Goyal, took part in the “7th BRICS Industry Ministers’ meeting” on a virtual platform, hosted by South Africa in its role as the Chair.
During the meeting, Goyal unveiled India’s plan to inaugurate the BRICS Startup Forum in the year 2023. The primary objective of this initiative is to foster collaboration, exchange of best practices, and partnerships among startups, investors, incubators, and aspiring entrepreneurs across the BRICS nations.
Highlighting the remarkable evolution within India, Piyush Goyal emphasized the expansion of the Startup India campaign, which has given rise to nearly 100,000 startups in the country. The minister’s focus centered on the theme “Transforming Production Systems,” underscoring India’s willingness to assist fellow BRICS members and the global community at large.
Piyush Goyal reaffirmed India’s unwavering dedication to the principle of “Vasudhaiva Kutumbakam” (‘The World Is One Family’). This principle signifies India’s commitment to being a responsible global participant, contributing to the creation of a more inclusive, tolerant, and interconnected global landscape.
The meeting saw participation from Industry Ministers of other BRICS countries, namely Brazil, Russia, China, and South Africa. A Joint Declaration was collectively adopted, shedding light on the shared imperatives of digitalization, industrialization, innovation, inclusivity, and investment within the BRICS bloc.
Acknowledging the growing significance of Industry 4.0 and emerging technologies, the ministers recognized their pivotal role in driving digital transformation across various economic sectors. In the Declaration, the BRICS members acknowledged the importance of nurturing human resources through collaboration on upskilling and reskilling programs.
A unified commitment was echoed by the ministers to fortify industrial cooperation, expediting the recuperation and advancement of the Industrial Economy. Their shared objective is to foster an environment that is open, equitable, dynamic, resilient, and free from discrimination.
The ministers accorded due recognition to the Micro, Small and Medium Enterprises (MSMEs), underscoring their pivotal role. They emphasized the integration and diversification of these enterprises into global industrial, supply, and value chains.
Additionally, the ministers highlighted the necessity of generating market opportunities within BRICS nations, aiming for inclusive growth of projects helmed by women, youth, and marginalized groups.
