In May 2025, India participated in the 9th BRICS(Brazil, Russia, India, China and South Africa) Industry Ministers’ Meeting held under the chairship of Brazil at the Itamaraty Palace in Brasilia, Brazil.
- The meeting was held under the theme ‘Strengthening Global South Cooperation for More Inclusive and Sustainable Governance’.
About BRICS Industry Ministers’ Meeting 2025:
i.The meeting was attended by Industry Ministers and representatives from both founding BRICS countries: Brazil, Russia, India, China, and South Africa,
- And, newly inducted members in the forum including Egypt, Ethiopia, Iran, Indonesia, and the United Arab Emirates (UAE).
ii.During the meeting, member countries of BRICS adopted the ‘Joint Declaration’, reaffirmed their collective commitment to fostering an open, fair, and resilient international environment, bolstering the multilateral system, and improving economic and social resilience amid rapid global transformations.
India-Specific:
i.The key highlight of the meeting was the formal presentation of the BRICS Startup Knowledge Hub, which was launched in January 2025 under the BRICS Start-Up Forum.
- It is the 1st-of-its-kind platform aims to foster cross-border collaboration, share policy insights, and promote mutual learning across startup ecosystems of BRICS member countries.
- Also, India has invited all BRICS countries to actively contribute to and benefit from the platform through the exchange of policy insights, innovations, and best practices.
ii.India emphasized the vital role of Micro, Small, and Medium Enterprises (MSMEs) in the national and international economy, which is in alignment with Joint Declaration.
- It further highlighted that with more than 5.93 crore registered MSMEs in India, which employs over 25 crore individuals, the sector contributed 45.73% of the country’s total exports in Financial Year 2023-24 (FY24), reflecting its global economic significance.
iii.During the meeting, India stressed the significance of digital transformation under the 4th Industrial Revolution (Industry 4.0) paradigm, highlighting that innovation and smart technologies are important to achieving sustainable industrial development.
- India highlighted its Digital India Campaign, which has transformed the country into the world’s largest digitally connected democracy.
- The total number of internet users in India surged from 251.59 million (in 2014) to 954.40 million (as of March 2024).
iv.In its concluding remarks at the meeting, India recommended that BRICS cooperation be guided by the values of: Sahyog (collaboration); Samanjasya (Harmony); Samagrata (Inclusiveness) and Sarvasammati (Consesus).
- India emphasized these values will define future cooperation among BRICS countries, which will help in ensuring shared prosperity, technological empowerment, and industrial resilience across the Global South.
Points to Note:
At present, the BRICS+ group including its 10 members and 9 partner countries, represents 54.6% of the world population and 42.2% of the global Gross Domestic Product (GDP).
About Brazil:
President-Luiz Inácio Lula da Silva
Capital- Brasilia
Currency- Brazilian Real (BRL)
