Leaders of Brics committed to implementing a joint statement on artificial intelligence (AI) governance, welcomed a new startup incubator network and floated a proposed innovation fund, according to the New Delhi Declaration issued at the summit.
The document highlights India’s hosting of the ‘AI Impact Summit’ in February 2026, proposes a Brics Startup Innovation Fund, and welcomes a Risk Lab pitched for India’s GIFT (Gujarat International Finance Tec)- City financial hub. These initiatives highlight India’s central role in shaping the bloc’s technology agenda.
Brics leaders used their 18th annual summit, chaired by India, to formalise a bloc-wide approach to AI, startups, and financial innovation. This also reflected India’s push to position itself as a hub for the bloc’s tech ambitions.
The declaration states the bloc recognises that AI presents immense opportunity to stimulate economic growth and sustainable development for all. The members committed to implement the Brics Leaders’ Statement on the Global Governance of Artificial Intelligence. Leaders congratulated India on the successful holding of the AI Impact Summit in February 2026, alongside China’s Shanghai-based World AI Conference.
Industry leaders said the Brics’ emphasis on wider access to AI, alongside safety and responsible governance, is timely. They said, AI is no longer a standalone technology theme; it is becoming a horizontal capability across sectors. They see enormous potential for AI to improve enterprise productivity and transform sectors such as financial services, health care and education.
“India is particularly well-positioned, with deep technology talent, digital public infrastructure and a large domestic market where solutions can be tested at population scale,” said Gopal Jain, managing director (MD) and chief executive officer (CEO), Gaja Capital. He has also served as a member of the Securities and Exchange Board of India (SEBI) alternative investment policy advisory committee and Indian venture and alternate capital association executive committee.
“Just as India demonstrated with digital public infrastructure, it has an opportunity to build AI platforms and applications that are relevant not only for India, but for the wider Global South,” said Jain.
Ashok Chandak, President, India electronics and semiconductor association (Iesa) said Brics has reinforced the importance of resilient technology supply chains, semiconductors, critical minerals and frontier technologies, while SEMICON India 2026 event – coming immediately after the summit – provides the platform to translate this strategic vision into industry partnerships and investments. “For India, this is a unique opportunity to position itself as a trusted technology bridge and design engine for the Global South,” said Chandak. “With its semiconductor design strengths, engineering talent and growing manufacturing ecosystem, India can drive Brics collaboration across chip design, manufacturing, advanced packaging, standards, and resilient supply chains,” said Chandak.
On startups, the declaration says leaders welcomed the establishment of the Brics Incubator Network and further consideration of a Brics Startup Innovation Fund, as a potential mechanism to catalyse startups for innovation-led growth. The fund remains conceptual. The bloc commended the Indian chairship for convening the inaugural Brics SME forum in Agra, which produced a report on advancing MSME competitiveness and strengthening access to finance and technology and sustainable growth.
India also drove financial-infrastructure proposals tied to tech and risk capital. The declaration notes members expressed interest in taking forward the discussions on India’s proposal to host a Brics Risk Lab, open to participation by interested members, at the GIFT City International Financial Services Centre (IFSC) in Gujarat. Separately, the bloc welcomed progress achieved under the Indian chairship in advancing discussions on the New Investment Platform (NIP) under study since Brazil’s prior chairship.
Beyond the still-conceptual startup fund, the bloc pointed to institutions already deploying capital. Leaders said the New Development Bank – now in its second golden decade – should expand local currency financing, diversify funding sources, and support impactful projects across member economies. They also welcomed continued work on the Brics Multilateral Guarantees (BMG) initiative. This is aimed at helping mobilise private capital, improve creditworthiness and reduce financing costs for development projects in Brics and the Global South.
Industrial-tech cooperation was also a focus at the event. The leaders welcomed the establishment of the India Centre for Brics Industrial Competencies (ICBIC) – complementing China’s existing counterpart. They also noted the launch of the Brics-NDB Knowledge Portal under the Indian chairship built with the New Development Bank to share best practices and financing lessons for members.
On intellectual property, the declaration flagged AI-specific friction. The leaders recognised the importance of collaborating on promoting respect for the intellectual property rights used in the digital environment, including for AI training purposes, as well as fair remuneration to right holders. But, they also acknowledged risks of misappropriation and misrepresentation of knowledge, heritage, and cultural values in AI training data.
