BRICS Industry Ministers adopt Joint Declaration to advance industrial growth through enhanced cooperation on MSMEs, Photovoltaics, Startups, and Logistics

Framework on Cooperation in SME Working Group promoted to boost the MSME ecosystems

Terms of Reference and Action Plan adopted for the BRICS Working Group on the Photovoltaic Industry, establishing a structured framework for cooperation in the sector

India proposes BRICS Incubator Network and BRICS Startup Innovation Fund to support Innovation-led Growth

16th BRICS Trade Ministers' Meeting to be Held in Jaipur on August 7 under India's Chairship

The Tenth BRICS Industry Ministers' Meeting concluded successfully in Jaipur, Rajasthan, under India's BRICS Chairship 2026. The meeting brought together Industry Ministers and senior representatives from BRICS member countries to culminate the ministerial engagement under the BRICS Partnership on New Industrial Revolution (PartNIR).

Held under the theme “Building for Resilience, Innovation, Cooperation and Sustainability,” the meeting provided a platform for member countries to deliberate on strengthening industrial capabilities, harnessing technological transformation, and creating greater opportunities for collaborative action.

Addressing the meeting, Shri Piyush Goyal, Union Minister of Commerce and Industry (CIM), welcomed the delegates to Jaipur, describing it as a city that seamlessly blends centuries of craftsmanship with the aspirations of a modern industrial economy.

The CIM emphasized that in a rapidly evolving landscape, aspirations must be translated into practical innovation and cooperation. He underscored that BRICS countries must leverage their complementary strengths to build resilient industries and highlighted that PartNIR has evolved into the principal mechanism for this collaboration

The Minister of State for Commerce & Industry, Shri Jitin Prasada, reaffirmed India's commitment to fostering stronger industrial partnerships among BRICS Member Countries and highlighted the role of cooperation, innovation and mutual trust in building a resilient and inclusive industrial future.

The CIM recalled that the BRICS journey commenced with the inaugural Summit in Yekaterinburg, Russia, in 2009. He appreciated Brazil's leadership during its Chairship in 2025 and reaffirmed that Bharat is committed to carrying forward this legacy through an incremental, proactive and pragmatic approach. He noted that India's Chairship seeks to provide continuity while fostering greater confidence among businesses, investors and innovators, and advancing practical cooperation that delivers tangible outcomes for all BRICS members.

The CIM apprised the gathering of the significant progress achieved under India's BRICS Chairship through PartNIR. He also highlighted the outcomes of the extensive deliberations undertaken by the Advisory Group and the thematic Working Groups across the four priority areas identified by India, aimed at establishing enduring institutional mechanisms to deepen industrial cooperation among BRICS member countries. These included the finalisation of the Framework for Cooperation in the SME Working Group, the adoption of Terms of Reference and Action Plan for Working Group on Photovoltaic Industry, finalisation of the Action Plan on innovation-led growth by Startups. Further, the importance of resilient industry related transport and logistics systems, including GIS-based Infrastructure Planning and City Logistics Planning were highlighted.

A major outcome of the meeting was the adoption of the Joint Declaration of the Tenth BRICS Industry Ministers’ Meeting. The Declaration reflects the collective commitment of member countries to move beyond dialogue toward the implementation of practical instruments of cooperation that strengthen industries and improve lives.

During the Meeting, Industry Ministers and Heads of Delegation from BRICS Member Countries shared their national perspectives, highlighting key policy initiatives, priorities, and achievements in promoting industrial development. The statements underscored a shared commitment to strengthening industrial capabilities, accelerating digital and technological transformation, fostering resilient and inclusive industrial ecosystems, and enhancing cooperation to address common development challenges. Member countries reaffirmed the importance of the PartNIR as a key platform for advancing practical collaboration, knowledge sharing, capacity building, and industrial innovation among BRICS members. Delegations also welcomed the progress made under India's 2026 Chairship, noting that the initiatives undertaken under PartNIR would contribute to strengthening institutional cooperation, fostering innovation and capacity building, and supporting the development of resilient, competitive, and future-ready industries across BRICS.

India, under its BRICS Chairship, is also hosting the 16th BRICS Trade Ministers' Meeting (TMM) in Jaipur, Rajasthan, on 7 August 2026, following the Third Meeting of the BRICS Contact Group on Economic and Trade Issues (CGETI) which was held on 3rd and 4th August 2026 in New Delhi. The Ministerial Meeting will be chaired by Shri Piyush Goyal, Union Minister of Commerce & Industry and attended by Shri Jitin Prasada, Union Minister of State for Commerce & Industry and Shri Rajesh Agrawal, Commerce Secretary. The Meeting will bring together Trade Ministers and senior officials from BRICS Member Countries to deliberate on key issues relating to international trade and economic cooperation.

Under the overarching theme, "Building for Resilience, Innovation, Cooperation and Sustainability," deliberations have focused on advancing economic cooperation among BRICS Member Countries. Discussions under the Third Contact Group on Economic and Trade Issues (CGETI) have centered on strengthening the multilateral trading system, enhancing the participation of MSMEs in international trade, fostering resilient and diversified global value chains, and facilitating seamless cross-border digitally delivered services.

During the Trade Ministerial deliberations, the visiting Ministers and their delegations will participate in a cultural excursion to City Palace and Hawa Mahal showcasing India's rich heritage and traditions. The technical sessions will provide an opportunity for Ministers to exchange views on strengthening trade and economic cooperation among BRICS Member Countries.

The BRICS Trade Ministers' Meeting marks a significant milestone under India's BRICS Chairship and reaffirms India's commitment to promoting an open, inclusive, transparent, equitable and rules-based multilateral trading system with the WTO at its core. The deliberations are expected to contribute to India's vision of Viksit Bharat@2047 by fostering resilient supply chains, innovation-driven growth, stronger MSME participation in international trade, and deeper economic cooperation among emerging economies.