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

New Delhi, Aug 08, 2023, PIB

Union Minister of Commerce and Industry, Textiles, Consumer Affairs and Food &
Public Distribution, Shri Piyush Goyal participated in the “7 th  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.