Indian Commerce and Industry Minister Piyush Goyal announced at the 7th BRICS Industry Ministers’ meeting on Monday that India will launch the BRICS Startup Forum in 2023.
In a joint declaration at the meeting held virtually with South Africa as the chair, the member states underlined the need to create market opportunities within the BRICS countries for inclusive growth of projects owned/managed by women, youth, and disadvantaged groups.
Overview
During the meeting, Goyal said that the goal of the BRICS Startup Forum would be to facilitate collaboration and share best practices among startups, investors, incubators, and aspiring entrepreneurs.
He highlighted that the Startup India initiative has created nearly 100,000 startups in the country thus far, and will be further expanded.
The minister also reaffirmed India’s commitment to “Vasudhaiva Kutumbakam” [The world is one family]. He underscored India’s resolve to be a responsible global citizen and work towards a more inclusive, tolerant and interconnected world.
✅Union Commerce and Industry Minister Shri @PiyushGoyal participates in the 7th BRICS Industry Ministers’ meeting
— PIB in Odisha (@PIBBhubaneswar) August 8, 2023
✅India to launch #BRICS Startup Forum in 2023 for facilitating collaboration among #startups, investors, incubators and aspiring entrepreneurs: Shri Piyush Goyal pic.twitter.com/2Knd0ds1zr
Joint Declaration
Representatives from member states, including Brazil, China, India, Russia, and South Africa, attended the meeting.
A joint declaration was adopted in the meeting, in which the members stressed the need for digitalisation, industrialisation, innovation, inclusiveness, and investment among the BRICS countries.
In the declaration, the members recognised the increasing importance of Industry 4.0 and other emerging technologies in promoting the digital transformation of all economic sectors.
A statement released by the Indian Ministry of Commerce and Industry after the meeting read, “Through the declaration, the BRICS members acknowledged the need for human resource development and exploring opportunities for cooperation on upskilling and reskilling programs.”
The members reiterated their commitment to expediting the industrial economy’s growth and recovery by creating an open, fair, vibrant, resilient, and non-discriminatory environment.
BRICS Summit 2023, Speculations Unfounded
South Africa will host the BRICS Summit from 22-24 August at the Sandton Convention Centre in Johannesburg.
In what will be the first BRICS in-person summit since the COVID-19 pandemic, members are expected to discuss the expansion of the grouping.
Indian PM Narendra Modi, Chinese President Xi Jinping, South African President Cyril Ramaphosa, and Brazilian President Luiz Lula da Silva will attend the summit in person.
Meanwhile, Russian President Vladimir Putin will attend the meeting virtually owing to an arrest warrant against him by the International Criminal Court, which mandates South Africa to arrest him if he steps inside the country. However, Russian Foreign Minister Sergei Lavrov will represent Putin in Johannesburg.
While there were rumours that the Indian PM might skip the meeting, South African Minister of International Relations and Cooperation Naledi Pandor refuted the claims and said, “I think someone who is trying to spoil our summit is creating all sorts of stories that suggest that it won’t be successful.”
The Indian External Affairs Ministry also dismissed reports speculating that India had reservations against the expansion of the grouping.