PM Modi Proposes BRICS Cross-Border Startup Corridor

Indian Prime Minister Narendra Modi has called for the establishment of a formal cross-border startup corridor designed to facilitate market access and venture capital flows among BRICS nations. Speaking at the BRICS Business Forum in New Delhi, the Prime Minister outlined a framework to support 100 startups annually in scaling operations across member markets and fostering 1,000 new cross-border business partnerships.

The proposal reflects a broader strategic push to integrate the startup ecosystems of Brazil, Russia, India, China, and South Africa. Central to this initiative is the proposed creation of a BRICS Startup Innovation Fund, which aims to provide a mechanism to catalyze innovation-led growth. The bloc also plans to establish a startup knowledge hub and a dedicated forum to facilitate networking and collaboration among founders and investors.

Beyond startup support, the 18th BRICS Summit concluded with a commitment to explore digital public infrastructure and strengthen cooperation on cybersecurity. The New Delhi Declaration highlights the role of emerging technologies, including artificial intelligence and quantum computing, as key drivers for future economic development. Member nations have also signaled an intent to deepen cooperation on cross-border payments, focusing on the interoperability of financial messaging systems.

The initiative arrives amid increasing scrutiny of AI development and systemic risks. Finance Minister Nirmala Sitharaman recently emphasized the need for fintech startups to build systems that balance rapid innovation with consumer trust and accountability. As BRICS nations move to formalize these support structures, the focus remains on balancing technological advancement with regulatory oversight to ensure long-term stability in the emerging markets.