Government’s Initiative: BRICS Startup Forum to Foster Entrepreneurial Collaborations: Goyal

Government Aims to Establish BRICS Startup Forum for Boosting Entrepreneurial Partnerships: Goyal

Three points you will get to know in this article:

• Commerce Minister Piyush Goyal aims to enhance collaboration and knowledge sharing among BRICS startups.
• India’s push for startups and cross-border collaboration through global forums like the G20 is concurrent with this development.
• At the seventh BRICS Industry Ministers’ meeting, Goyal highlighted the significant growth of nearly 100,000 startups in India nurtured by the Startup India initiative

Later this year, India is gearing up to launch a dynamic BRICS startup platform, designed to foster collaboration and the sharing of insights among investors, incubators, and budding visionaries. This exciting initiative is being spearheaded by Piyush Goyal, the Minister of Commerce and Industry.

During the seventh virtual BRICS Industry Ministers’ meeting, hosted by South Africa, Goyal disclosed this initiative to his correspondents from Brazil, Russia, China, and South Africa.
Highlighting the remarkable accomplishments of India’s Startup India drive, which has nurtured the birth of almost 100,000 new startups domestically, Goyal conveyed India’s eagerness to offer assistance and knowledge to fellow BRICS nations in this dynamic field.

Collaborative Announcement by Ministers of Industry

The association of industry ministers from BRICS nations ended up in the adoption of a joint declaration. This declaration underlined the significance of digitalisation, industrialisation, innovation, inclusivity, and investment among the BRICS economies.

Recognizing the increasing influence of Industry 4.0 and the rise of innovative technologies in driving digital evolution across diverse fields, the ministers underlined the significance of nurturing human potential and skill development.

In a statement, the commerce and industry ministry conveyed that the BRICS nations, via their declaration, recognized the imperative of advancing human resource development and delving into prospects for collaborating on upskilling and reskilling initiatives. Additionally, the ministers emphasized the importance of establishing market pathways to nurture comprehensive progress for endeavors overseen by women, youth, and marginalized communities.

What is BRICS?

BRICS is a phrase of a group of five major emerging economies: Brazil, Russia, India, China, and South Africa. This coalition aims to foster cooperation and collaboration among its member nations to address global economic and political challenges.

Together, the BRICS nations encompass a substantial share of the global population, vast landscapes, and economic productivity. They come together to deliberate and embark on endeavors concerning economic progress, trade, investments, technological advancements, and matters of global significance.
Established in 2009, BRICS pursue to promote mutual growth, influence global governance, and strengthen the role of emerging economies in shaping international policies and initiatives.

India’s upcoming BRICS startup platform, spearheaded by Minister Piyush Goyal, signifies a significant step towards fostering collaboration and knowledge sharing among BRICS nations. The joint declaration by industry ministers underscores the importance of digitalization, innovation, and inclusive growth. This initiative not only promotes economic development but also highlights the commitment of BRICS nations to empower their youth, women, and marginalized communities while embracing the transformative potential of Industry 4.0 and innovative technologies.

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