The Union Cabinet chaired by the Prime Minister Shri Narendra Modi today was apprised about signing of BRICS Memorandum of Understanding (MoU) on cooperation in the fields of Science, Technology and innovation.
India signed BRICS Memorandum of Understanding (MoU) on cooperation in the fields of Science, Technology and Innovation(STl) in March 2015 at Brasilia, Brazil on the sidelines of 3rd BRICS STI Ministerial meeting.
The MoU envisages promotion of cooperation in the field of science, technology and innovation among BRICS countries by means of mutually agreed S&T events and activities.
The objectives of the MoU are to establish a strategic framework of cooperation in STI to address the common global, and regional socio-economic challenges utilizing shared experiences and complementarities in STI among the BRICS countries; co-generate new knowledge and innovative products, services and processes etc.
The Ministry of Science and Technology from Indian side and the counterpart Ministries from other BRICS countries are the nodal Ministries/ Departments for realizing the objectives of the BRICS MoU on 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.