Under the theme “Building for Resilience, Innovation, Cooperation and Sustainability,” the meeting concentrated on bolstering industrial capabilities, expediting technological advancement, and establishing practical collaboration mechanisms among BRICS countries.
The Ministry of Commerce and Industry stated that the declaration signifies a collective dedication to transition from dialogue to actionable strategies that fortify industries and enhance livelihoods across member nations.
Emphasis on innovation and industrial resilience
Ministers and heads of delegation from BRICS nations shared their national priorities and policy strategies for advancing industrial growth.
The conversations underscored a unified commitment to enhance industrial capabilities, accelerate digital transformation, develop resilient and inclusive industrial ecosystems, and foster cooperation to address common development challenges.
The member nations reiterated the significance of the Partnership on New Industrial Revolution (PartNIR) as a crucial platform for knowledge exchange, capacity development, industrial innovation, and collaborative efforts.
Delegations expressed their appreciation for the advancements made under India’s BRICS chairmanship, asserting that initiatives launched via PartNIR would bolster institutional cooperation and cultivate more resilient and competitive industries within BRICS.
India underscores achievements during its BRICS presidency
Commerce and Industry Minister Piyush Goyal highlighted the outcomes from discussions by the PartNIR Advisory Group and thematic working groups focusing on four key priority areas identified by India.
These areas included finalising the Framework for Cooperation for MSMEs, adopting the Terms of Reference and Action Plan for the Photovoltaic Industry Working Group, and establishing an Action Plan for innovation-led growth through startups.
Goyal also stressed the critical nature of resilient transport and logistics systems, including GIS-based infrastructure planning and city logistics planning, asserting that India’s chairmanship seeks to instill confidence among businesses, investors, and innovators while achieving tangible results for BRICS members.
Upcoming meeting of trade ministers
India is set to host the 16th BRICS Trade Ministers’ Meeting in Jaipur on August 7, following the Third Meeting of the BRICS Contact Group on Economic and Trade Issues (CGETI) in New Delhi on August 3 and 4.
During this upcoming meeting, trade ministers are anticipated to discuss enhancing the multilateral trading system, increasing MSME participation in global trade, developing resilient global value chains, and facilitating cross-border digital services.
During the industry ministers’ meeting, Goyal also engaged in bilateral discussions with South African Trade Minister Parks Tau, Brazilian Development, Industry, Trade and Services Minister Márcio Fernando Elias Rosa, and Egyptian Industry Minister Khaled Hashem Ali Maher to explore avenues for strengthening trade and economic collaboration.
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