India Champions Inclusive Digital Growth at BRICS Summit
At the recent BRICS summit, India underscored its dedication to fostering inclusive digital growth among member nations, emphasizing the importance of collaboration in technology, innovation, and sustainable development.
Advocating for Financial Integration
Prime Minister Narendra Modi highlighted India’s push for greater financial integration within BRICS, advocating for trade in local currencies to reduce reliance on dominant global currencies. He cited India’s Unified Payments Interface (UPI) as a successful model adopted by several countries, encouraging BRICS members to explore similar systems to enhance economic ties and resilience.
Strengthening Startup Ecosystems
India called upon fellow BRICS nations to bolster cooperation in the start-up sector, aiming to drive innovation and economic growth across member countries. The Ministry of Commerce and Industry emphasized the potential of start-up collaboration to foster technological advancement, proposing the establishment of a BRICS Startup Forum to facilitate knowledge sharing among start-ups, investors, and incubators.
Promoting Cultural Integration
During the 9th BRICS Culture Ministers’ Meeting in Russia, India’s Culture Secretary Arunish Chawla emphasized the need to integrate culture into global development strategies. He reiterated India’s commitment to leveraging cultural creativity for sustainable development and economic growth, aligning with Prime Minister Modi’s vision of cultural collaboration.
Expanding the Scope of the New Development Bank
India advocated for expanding the New Development Bank’s (NDB) scope to strengthen social infrastructure, particularly in education and health sectors. Commerce and Industry Minister Piyush Goyal emphasized the importance of managing transitions to new technologies in line with national policies, citing challenges related to data protection and cybersecurity.
Fostering Scientific Collaboration
At the BRICS Science Ministers’ Meeting, India’s Science and Technology Minister Jitendra Singh reaffirmed the nation’s commitment to enhancing cooperation in technology and innovation. He highlighted India’s support for BRICS efforts to develop inclusive solutions in various fields, including digital technologies, renewable energy, and biotechnology, aiming to address common challenges and drive sustainable development.
Conclusion
India’s active participation and initiatives at the BRICS summit reflect its commitment to inclusive digital growth, financial integration, and collaborative development. By promoting start-up ecosystems, cultural integration, and scientific cooperation, India aims to strengthen ties among BRICS nations and contribute to a more interconnected and resilient global community.
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