Saturday, June 22, 2024
Home » industry » Union Commerce and Industry Minister Shri Piyush Goyal participates in the 7th BRICS Industry Ministers’ meeting

Union Commerce and Industry Minister Shri Piyush Goyal participates in the 7th BRICS Industry Ministers’ meeting

August 8, 2023


India to launch BRICS Startup Forum in 2023 for facilitating collaboration among startups, investors, incubators and aspiring entrepreneurs: Shri Piyush Goyal

Shri Piyush Goyal reiterates India’s commitment to “Vasudhaiva Kutumbakam” as a responsible global citizen

BRICS Industry Ministers re-emphasize on need for digitalization, industrialization, innovation, inclusiveness and investment among BRICS countries

Union Minister of Commerce and Industry, Textiles, Consumer Affairs and Food & Public Distribution, Shri Piyush Goyal participated in the “7th BRICS Industry Ministers’ meeting” hosted virtually with South Africa as the Chair yesterday. Shri Goyal announced that India will be launching the BRICS Startup Forum in 2023 with the goal of facilitating collaboration and sharing best practices among startups, investors, incubators, and aspiring entrepreneurs.

Shri Piyush Goyal, while highlighting the transformation that has taken place in India, also commented on 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.

Shri Piyush Goyal reiterated India’s commitment to “Vasudhaiva Kutumbakam” (‘The World Is One Family’) which underscores India’s commitment to being a responsible global citizen and working towards a more inclusive, tolerant and interconnected world.

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 on 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 digital transformation of all economic sectors. Through the declaration, the BRICS members acknowledged the need for human resource development and exploring opportunities for cooperation on upskilling and reskilling programs.

The Ministers reiterated their commitment to deepen industrial cooperation and expedite the recovery and growth of the Industrial Economy through jointly creating an open, fair, vibrant, resilient and non-discriminatory environment.

The Ministers recognized the key role of Micro, Small and Medium Enterprises (MSMEs) and the importance of their integration and diversification into global industrial chains, supply chains and value chains. The Ministers also underlined the need for creating market opportunities within the BRICS countries for inclusive growth of projects owned/managed by women, youth and disadvantaged groups.

Source :

Related Posts

Reader / Viewer discretion and disclaimer :
The information provided on SMEConnect ( website is intended for general informational purposes only. While we strive to provide accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or reliability of the content. The views and opinions expressed in the articles and posts on this website are those of the authors and do not necessarily reflect the official policy or position of SMEConnect website. Readers are advised to independently verify any information found on this website before making decisions based on it. We do not endorse, represent, or warrant the accuracy or reliability of any third-party content linked on this site. Furthermore, SMEConnect ( website shall not be held liable for any errors, omissions, or delays in the information provided, nor for any losses, injuries, or damages arising from its display or use. Please note that the content on SMEConnect ( website may be subject to change without notice.