India Hosts 10th BRICS Industry Ministers' Meeting in Jaipur, Proposes Startup Innovation Fund and Solar Energy Framework

Gathering under the overarching theme "Building for Resilience, Innovation, Cooperation and Sustainability," industry leaders and senior delegates from BRICS member states adopted a comprehensive Joint Declaration aimed at converting strategic dialogue into practical, actionable cross-border partnerships.

Core Outcomes and Key Policy Frameworks

Chaired by India’s Union Minister of Commerce & Industry, Shri Piyush Goyal, along with Minister of State Shri Jitin Prasada, the ministerial session highlighted the PartNIR (BRICS Partnership on New Industrial Revolution) as the primary engine for industrial collaboration.

Key deliverables established during the summit include:

• BRICS Startup Innovation Fund & Incubator Network: India formally proposed the creation of a dedicated BRICS Incubator Network and a BRICS Startup Innovation Fund to spur technology-driven entrepreneurship and joint ventures across member nations.

  Photovoltaic Industry Working Group: Delegations adopted the official Terms of Reference and Action Plan for the BRICS Working Group on the Photovoltaic Industry, setting up a structured operational framework for solar manufacturing and renewable technology sharing.

  MSME Integration: Finalization of the Framework for Cooperation under the SME Working Group to strengthen supply chain integration, digital capacity, and cross-border trade readiness for smaller enterprises.

  Resilient Infrastructure & Logistics: Introduction of GIS-based infrastructure planning and city logistics strategies designed to safeguard trade channels against global economic shocks and supply disruptions.

Addressing the assembly, Minister Piyush Goyal noted that BRICS nations must leverage complementary industrial capabilities to build future-ready economies, emphasizing India's commitment to delivering pragmatic outcomes that benefit businesses, investors, and innovators across the bloc.

Paving the Way for Trade Ministerial Deliberations

The successful industrial summit sets the stage for the 16th BRICS Trade Ministers' Meeting (TMM), held August 7 in Jaipur following preliminary talks by the BRICS Contact Group on Economic and Trade Issues (CGETI) in New Delhi.

Chaired by Goyal alongside Commerce Secretary Rajesh Agrawal, the trade ministerial will address core global trade challenges, including fortifying the multilateral trading system anchored by the World Trade Organization (WTO), expanding digitally delivered services, and integrating MSMEs into international supply chains.

The multi-day summit underscores India's strategic vision for economic growth and international trade equity, aligning regional partnerships with national economic milestones toward sustainable industrial development.