STI fund for BRICS Countries

India proposes special Science, Technology and Innovation fund for Brazil, Russia, India, China and South Africa (BRICS) and offered to contribute an initial sum of USD 2 million as its share of the contribution to the proposed 10 million USD fund. Furthur it offered 3 key proposals .

The three key proposals include various fields.

1) India will pursue BRICS STI cooperation activities in the areas of shared priorities such as Energy, Water, Health, Natural Disaster Management, ICT, Basic research in emerging areas of S&T, Industrial clusters especially involving MSMEs.

2)  India is in favor of setting a BRICS Framework of STI Cooperation that promotes some common objectives to be overseen by BRICS STI Working Group.

3) creation of a “BRICS STI Fund” with annual contributions from each member country for supporting cooperation activities under the BRICS STI framework.To begin with, the initial contribution could be to the tune of US$ 2 million per member country and India is prepared to undertake its share of commitment.

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