BRICS Centre for Industrial Competencies

BRICS Centre for Industrial Competencies Latest News

Recently, India joined the BRICS Centre for Industrial Competencies (BCIC) at Vanijya Bhavan, New Delhi.

About BRICS Centre for Industrial Competencies

• It was launched in partnership with the United Nations Industrial Development Organization (UNIDO).
• Objective: It serves as a one-stop centre providing integrated support services to manufacturing companies and Micro, Small and Medium Enterprises (MSMEs) across BRICS countries.
• It is a network-driven initiative under UNIDO, supporting SMEs, industrial modernization, and digital transformation in BRICS.
• It focuses on strengthening Industry 4.0 competencies.
• Implementation: The National Productivity Council (NPC) has been designated as the India Centre for BRICS Industrial Competencies. 

Key Facts about BRICS

• It is a group of major emerging economies that work together for economic cooperation, development, and global governance reforms.
• The acronym ‘BRIC’ was coined by Jim O’Neill (Goldman Sachs economist) in 2001 to denote four emerging economies – Brazil, Russia, India, and China.
• BRIC held its first meeting in 2006 during the G8 Outreach Summit and its first standalone summit in Russia in 2009.
• With the inclusion of South Africa in 2010, BRIC became BRICS.
• Aim: To strengthen South-South cooperation and increase the voice of developing countries at the global level.
• Member Countries: Brazil, Russia, India, China, South Africa, Saudi Arabia, United Arab Emirates, Iran, Egypt, Ethiopia, and Indonesia.

Source: PIB

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