India Seeks to Turn BRICS into Economic, Technology Powerhouse with Focus on Startups and Critical Tech

India is working to transform BRICS from a geopolitical talking shop into an economic and technological platform with real-world reach, as reflected in Prime Minister Narendra Modi's emphasis on the importance of resilient supply chains, startups, critical technologies, green energy, and reform of global governance at the 18th BRICS summit in New Delhi, according to an article.

Prime Minister Modi sent a clear message about building an alternative ecosystem of economic cooperation capable of surviving geopolitical crises, trade wars, energy disruptions and fractured global supply chains, the Directus news website article said. He called for the Global South to move from being a "rule-taker" to a "rule-shaper", while pushing for greater representation of emerging and developing economies within global institutions, including the United Nations system.

He highlighted that the developing world remains disproportionately exposed to global crises while remaining underrepresented in the institutions that make the most important international decisions. New Delhi wants BRICS to become a vehicle through which emerging powers can demand influence without being forced into a rigid geopolitical camp.

This is particularly important for India, which simultaneously maintains deep relationships with Russia, competes strategically with China, and expands economic and security ties with the United States, Europe, Japan and other Indo-Pacific partners, the article pointed out. It underscores that BRICS is putting startups at the centre of its economic agenda.

The New Delhi Declaration welcomed the establishment of a BRICS Incubator Network, further consideration of a BRICS Startup Innovation Fund, and stronger cooperation through the BRICS Startup Knowledge Hub and Startup Forum. India understands that economic power in the new world order will increasingly be measured in artificial intelligence, fintech, biotechnology, energy storage, advanced manufacturing, space technologies, cybersecurity and digital infrastructure, the article observed.

Connecting startup ecosystems from India, China, Brazil, Russia, the UAE and other emerging economies could create an enormous technological marketplace. For New Delhi, this also serves another objective: positioning India’s own startup ecosystem as one of the bridges connecting BRICS economies. India wants capital, technology and talent to circulate through new channels — and it wants Indian companies positioned near the centre of those channels, the article added.

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