India announces BRICS Start-up Forum to foster collaboration
India is set to launch the BRICS Start-up Forum in 2023, aimed at fostering collaboration and knowledge sharing among startups, investors, incubators, and entrepreneurs. Announced by the Minister of Commerce & Industry Piyush Goyal during the virtual 7th BRICS Industry Ministers' meeting, the initiative is part of India's expanding Start-up India program, which has led to creation of nearly 100,000 startups in the country.
Start-up Forum would help BRICS members, international community: Goyal
India's Start-up India initiative has significantly contributed to the country's startup ecosystem. During the meeting, Goyal emphasized India's commitment to "Transforming Production Systems" and supporting other BRICS members and the global community. The BRICS Start-up Forum will offer a platform for start-ups to exchange ideas, network, access funding opportunities, and seek mentorship while fostering innovation and inclusiveness.
Joint declaration recognized the importance of Industry 4.0
The industry ministers of Brazil, Russia, China, India, and South Africa adopted a joint declaration aimed at promoting digitalization, industrialization, innovation, inclusiveness, and investment among BRICS countries. The declaration recognized the importance of Industry 4.0 and emerging technologies in driving digital transformation across economic sectors. The ministers also emphasized the need for human resource development and the importance of MSMEs.
