Piyush Goyal says India will launch BRICS Startup Forum this year to facilitate collaboration among startups, investors, incubators

The Indian minister made the announcement while attending the 7th BRICS Industry Ministers’ meeting that was hosted virtually with South Africa as the Chair on Monday.

Piyush Goyal, while highlighting the transformation that has taken place in India, mentioned the expanding Startup India initiative that has led to the creation of nearly 100,000 startups in the country.

The Minister focused on “Transforming Production Systems” and the support India can offer to other BRICS members and the wider international community.

The Industry Ministers of other BRICS countries (Brazil, Russia, China and South Africa) also attended the meeting and the Joint Declaration was adopted.

The Ministers re-emphasized the need for digitalization, industrialization, innovation, inclusiveness, and investment among BRICS countries.

They recognized the increasing importance of Industry 4.0 and other emerging technologies in promoting the digital transformation of all economic sectors.

"Through the declaration, the BRICS members acknowledged the need for human resource development and explored opportunities for cooperation on upskilling and reskilling programs," read the official statement issued by the Indian government.