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India held three BRICS ministerial-track events on 6 August 2026 under its BRICS Chairship, themed 'Building for Resilience, Innovation, Cooperation and Sustainability'.
The Tenth BRICS Industry Ministers' Meeting in Jaipur concluded with a Joint Declaration and adopted a Framework for Cooperation in the SME Working Group and Terms of Reference for a new Working Group on the Photovoltaic Industry.
India proposed a BRICS Incubator Network and a BRICS Startup Innovation Fund to support innovation-led growth.
BRICS WAVES Bazaar opened in Mumbai with over 500 delegates from BRICS member and partner countries, positioning the creative or 'Orange' economy as a cooperation area.
The 3rd BRICS Senior Education Officials Meeting in Bhubaneswar finalised the draft Education Ministers' Declaration, including Guiding Principles on Traditional and Indigenous Knowledge Systems.
Plurilateral grouping of major emerging economies. As of 2026 it has 11 full members: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, the United Arab Emirates and Indonesia. Egypt, Ethiopia, Iran, Saudi Arabia and the UAE joined on 1 January 2024; Indonesia became a full member in January 2025.
A formal category created in 2024 allowing invited states to attend key BRICS meetings and selected sessions without full membership. The ten partners are Belarus, Bolivia, Cuba, Kazakhstan, Malaysia, Nigeria, Thailand, Uganda, Uzbekistan and Vietnam.
The BRICS development bank, financing infrastructure and sustainable development projects in member and partner states. It is the grouping's principal financial institution.
The grouping's principal mechanism for industrial cooperation, covering Industry 4.0 transformation, MSMEs, and technology. It was agreed at the 10th BRICS Summit in Johannesburg in 2018 and built out as an institutional mechanism thereafter.
The official-level body that prepares the BRICS Trade Ministers' Meeting. Its third meeting under India's Chairship was held in New Delhi on 3-4 August 2026, covering the multilateral trading system, MSME participation in trade, resilient value chains and cross-border digitally delivered services.
The Government of India body organising the BRICS WAVES Bazaar programme of conferences, keynotes and B2B meetings.
Record the collective commitment of member states to move from dialogue to practical instruments of industrial cooperation.
Key: The headline outcome of the Jaipur meeting on 6 August 2026.
Strengthen MSME ecosystems across BRICS economies.
Key: Finalised under PartNIR as one of India's four priority areas.
Create a structured framework for cooperation in solar photovoltaic manufacturing and deployment.
Key: Terms of Reference and an Action Plan were adopted at the Jaipur meeting.
Coordinate startup policy and cross-border startup collaboration among members.
Key: Finalised alongside India's proposals for a BRICS Incubator Network and a BRICS Startup Innovation Fund.
Build resilient industry-linked transport and logistics systems.
Key: Emphasis on GIS-based Infrastructure Planning and City Logistics Planning.
Set the education cooperation agenda across member states.
Key: Priority areas are Early Childhood Care and Education (ECCE), Technical and Vocational Education and Training (TVET), collaborative research and innovation, mutual recognition of qualifications, academic leadership, and Guiding Principles on Traditional and Indigenous Knowledge Systems.
The creative economy covers industries whose primary input is intellectual and cultural creativity rather than physical raw material - film, television, animation, VFX, gaming, music, design, publishing and digital media. It is called the 'Orange Economy' after the colour long associated with creativity and culture, a term popularised in development policy to give these industries a recognisable economic identity alongside the green and blue economies. The point of the label is measurement: treating creative output as an economic sector makes it possible to count its contribution, which India's Ministry of External Affairs placed at 3.1 per cent of global GDP and over USD 1.4 trillion in international service exports. For BRICS this is attractive because member states are simultaneously large content producers and large audiences, yet their content circulates poorly within the grouping - a gap the WAVES Bazaar is designed to close.
Simple Analogy: If the green economy counts what we grow sustainably and the blue economy what we draw from the sea, the orange economy counts what we imagine.
GS Paper 2 > International Relations: Bilateral, Regional and Global Groupings and Agreements involving India; GS Paper 3 > Indian Economy: Industrial Policy
General Awareness > International Organisations and Current Affairs
General Awareness > International Institutions and Economy
General Awareness > Current Affairs
General Knowledge > International Relations
Consider the following pairs: I. Woman Farmer : 2026 II. Sustainable Tourism : 2027 III. Peace and Trust : 2025 IV. Asteroid : 2029 How many... correctly matched?
Answer: All the four
BRICS membership, institutions and summit venues appear almost every year across UPSC Prelims, SSC and Banking general awareness.
BRICS Partnership on New Industrial Revolution - the grouping's principal industrial cooperation mechanism, agreed at the 2018 Johannesburg Summit.
Contact Group on Economic and Trade Issues - the officials' body that prepares the BRICS Trade Ministers' Meeting.
A BRICS category created in 2024 permitting invited states to join key meetings without full membership; there are ten.
The creative economy - film, animation, gaming, music, design and digital media - measured as an economic sector.
India's international marketplace for the creative economy, held in Mumbai; the BRICS edition drew over 500 delegates from 21 countries.
Early Childhood Care and Education - a priority area in the BRICS Education Ministers' Declaration.