The Union Cabinet has apprised signing of BRICS Memorandum of Understanding (MoU) on cooperation in the fields of Science, Technology and innovation (STI).
The MoU seeks to promote of cooperation in the field of STI among BRICS countries by means of mutually agreed S&T events and activities.
- Objective of MoU is to establish a strategic framework of cooperation in STI to address the common regional and global socio-economic challenges.
- For this purpose BRICS nations will be utilizing shared experiences and complementarities in STI in order to co-generate new knowledge and innovative products, services and processes.
- From Indian side, Union Ministry of Science and Technology and the counterpart Ministries from other BRICS countries are the nodal agencies for realizing the objectives of this MoU.
- STI Cooperation which shall be on the basis of mutually agreed areas of cooperation, modes and mechanisms and joint funding as per national norms of respective BRICS member countries.
India had signed this BRICS MoU on cooperation in the fields of STl in March 2015 at Brasilia, Brazil on the sidelines of 3rd BRICS STI Ministerial meeting.