India to launch BRICS startup forum to facilitate collaborations among entrepreneurs: Goyal

India is set to introduce a BRICS startup forum this year, aiming to boost cooperation and exchange insights among investors, incubators, and budding entrepreneurs, according to Commerce and Industry Minister Piyush Goyal. BRICS is a grouping of Brazil, Russia, India, China and South Africa.

This announcement came during the virtual seventh BRICS Industry Ministers’ meeting led by South Africa. Goyal highlighted the success of the central government’s Startup India initiative, which has fostered the establishment of approximately 100,000 startups. Given this achievement, he expressed India’s readiness to extend assistance to fellow BRICS nations in this domain.

The meeting saw participation from industry ministers of all BRICS nations, culminating in a collective declaration.

Key focal points discussed by the ministers encompassed digital transformation, fostering innovation, advancing industrialization, ensuring inclusivity, and promoting investments within the BRICS landscape. The significance of Industry 4.0 and other avant-garde technologies as drivers of digital metamorphosis across diverse economic arenas was also acknowledged.

“Through the declaration, the BRICS members acknowledged the need for human resource development and exploring opportunities for cooperation on upskilling and reskilling programmes,” the commerce and industry ministry said in a statement.

Moreover, the declaration highlighted the imperative of forging market prospects that can champion the holistic growth of ventures led or operated by women, the youth, and marginalized groups.

Editorial Team

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