BRICS bets on AI, startups as India pushes innovation-led growth agenda

Source: Business Standard | Original Published At: 2026-09-13 14:08:13 UTC

Key Points

• BRICS leaders committed to implementing a joint statement on the global governance of artificial intelligence, according to the New Delhi Declaration issued at the summit.
• The declaration welcomed the establishment of the BRICS Incubator Network and further consideration of a proposed BRICS Startup Innovation Fund, which remains conceptual.
• India’s chairship highlighted the February 2026 AI Impact Summit, a proposed BRICS Risk Lab at GIFT City, and the inaugural BRICS SME Forum in Agra.
• BRICS leaders said the New Development Bank should expand local-currency financing, diversify funding sources, and support impactful projects across member economies.
• The bloc welcomed continued work on the BRICS Multilateral Guarantees initiative to mobilize private capital and reduce financing costs for development projects.
• The leaders also welcomed the India Centre for BRICS Industrial Competencies and a BRICS-NDB Knowledge Portal, while flagging cooperation on intellectual property rights in AI training data.