Jaipur: Ministers representing BRICS economies approved the Joint Declaration during the 10th BRICS Industry Ministers' Meeting, marking another step toward expanding industrial and economic cooperation among member countries.
The declaration highlights collaboration in several strategic sectors, including Micro, Small and Medium Enterprises (MSMEs), startup innovation, solar energy, advanced manufacturing, digital transformation, and logistics infrastructure. Officials emphasized that stronger industrial partnerships will help improve supply-chain resilience, attract investment, and encourage technology sharing among BRICS nations.
A key focus of the declaration is increasing support for startups and MSMEs through innovation, financing, digital platforms, and cross-border business opportunities. The ministers also stressed the importance of clean energy, particularly solar power, as member countries seek to accelerate the transition toward sustainable industrial development.
The agreement further calls for improved logistics connectivity, trade facilitation, and infrastructure cooperation to reduce transportation costs and strengthen regional and global value chains.
The approval of the declaration comes ahead of the full ministerial meeting scheduled for Friday, where industry ministers are expected to discuss implementation mechanisms, future cooperation projects, and investment initiatives designed to enhance economic integration within the expanded BRICS grouping.
Analysts say the declaration reflects BRICS' growing emphasis on industrial competitiveness, innovation-driven growth, and sustainable development at a time of shifting global trade dynamics.
