BRICS
India participates in BRICS Industry Ministers’ Meeting in Brasília
India participated in the 9th BRICS Industry Ministers’ Meeting held under the Chairship of Brazil on May 21 at the Itamaraty Palace, Brasília – Federal District, where the adopted declaration affirmed enhancing economic and social resilience amid rapid global transformations.
Theme Of The Meeting
The overarching theme of the meeting was “Strengthening Global South Cooperation for More Inclusive and Sustainable Governance”.
The meeting witnessed the presence of Industry Ministers and representatives from all BRICS member countries including Brazil, Russia, India, China, South Africa, as well as newly inducted members Egypt, Ethiopia, Iran, Indonesia, Saudi Arabia, and the United Arab Emirates.
The Joint Declaration adopted at the meeting reaffirmed the collective commitment to fostering an open, fair, and resilient global environment, strengthening the multilateral system, and enhancing economic and social resilience amid rapid global transformations.
BRICS Startup Knowledge Hub
As a key initiative, India launched the BRICS Startup Knowledge Hub on January 31, 2025, under the aegis of the BRICS Start-Up Forum.
This is the first-of-its-kind dedicated platform for BRICS nations, aimed at enhancing cross-border collaboration and strengthening startup ecosystems across member countries.
India extended an invitation to all BRICS nations to contribute to and derive benefits from this platform through the exchange of policy insights, innovations, and best practices.
In line with the Joint Declaration, India also emphasized the critical role of Micro, Small, and Medium Enterprises (MSMEs) in the national and global economy.
India highlighted that with 5.93 crore registered MSMEs employing more than 25 crore individuals, the sector contributed 45.73% of the country’s total exports in 2023–24.
The Ministers underscored the need to deepen industrial cooperation and promote sustainable and inclusive growth across BRICS nations.
The Joint Declaration emphasized the pivotal role of innovation and digital technologies under Industry 4.0 as key drivers of sustainable development.
India, in its intervention, articulated its vision for a future-ready industry that is inclusive, innovative, and digitally empowered, aligning with the objectives of the Fourth Industrial Revolution.
It was noted that India’s Digital India campaign has transformed the country into the world’s largest digitally connected democracy.
The number of internet users in India increased significantly from 251.59 million in 2014 to 954.40 million as of March 2024.
India concluded its remarks by calling upon BRICS members to be guided by the principles of Sahyog (Collaboration), Samanjasya (Harmony), Samagrata (Inclusiveness), and Sarvasammati (Consensus) in all cooperative endeavours going forward.
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