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India to Launch BRICS Startup Forum for Global Entrepreneurial Collaboration in 2023: Minister

India is set to introduce the BRICS Startup Forum in 2023, aiming to foster cooperation and exchange of successful strategies among startups, investors, mentors, and aspiring entrepreneurs. Piyush Goyal, the Union Minister of Commerce and Industry, Textiles, revealed this during a virtual address at the “7th BRICS Industry Ministers’ meeting,” which was hosted by South Africa.

Goyal underscored the profound changes witnessed in India and highlighted the advancements attributed to the Startup India initiative. He emphasized the initiative’s role in nurturing nearly 100,000 startups in the nation. Goyal delved into the concept of “Transforming Production Systems,” emphasizing India’s potential to support fellow BRICS nations and the global community at large. He reaffirmed India’s commitment to the philosophy of “Vasudhaiva Kutumbakam” (‘The World Is One Family’), reflecting the country’s dedication to being a responsible global participant, advocating for inclusivity, tolerance, and interconnectedness.

The Industry Ministers from the other BRICS countries (Brazil, Russia, China, and South Africa) also participated in the meeting, leading to the adoption of a Joint Declaration. The ministers jointly stressed the significance of digitalization, industrialization, innovation, inclusivity, and investment within the BRICS alliance. Recognizing the escalating importance of Industry 4.0 and emerging technologies, the declaration acknowledged their role in driving the digital overhaul across various economic sectors.

The BRICS members concurred on the necessity of nurturing human resources through upskilling and reskilling initiatives. The ministers voiced their dedication to strengthening industrial collaboration, expediting economic resurgence, and cultivating a fair, vibrant, and unbiased environment conducive to growth.

Moreover, the ministers recognized the pivotal role of Micro, Small and Medium Enterprises (MSMEs) and advocated for their integration and diversification into global industrial, supply, and value chains. A notable emphasis was placed on creating market avenues within BRICS countries to promote comprehensive growth for projects led by women, youth, and marginalized communities.

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