Demographic strength gives BRICS countries an opportunity to shape future of work: Mandaviya

Across many BRICS economies, more than 50 per cent of the population is below the age of 35.

The demographic strength of BRICS nations allows it to shape the future of work, said Union minister Mansukh Mandaviya on Wednesday, stressing that young people in these countries are already driving transformational change.

The Union Minister of Youth Affairs and Sports was addressing the inaugural session of the BRICS Youth Entrepreneurship Working Group Meeting in Indore through video-conferencing.

''Together, our countries represent nearly half of the world's population. Across many BRICS economies, more than 50 per cent of the population is below the age of 35. India alone has nearly 65 per cent of its population below the age of 35.

''This demographic strength gives BRICS countries an opportunity to shape the future of work. Across BRICS nations, young people are already driving transformational change,'' said Mandaviya.

BRICS is a major intergovernmental organisation and geopolitical bloc comprising eleven prominent emerging economies: Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran, Saudi Arabia, Indonesia and the United Arab Emirates.

Mandaviya said that under the leadership of Prime Minister Narendra Modi, India has made remarkable progress in expanding employment opportunities and building one of the world's most vibrant start-up ecosystems through focused efforts on skilling, digital inclusion and enterprise-led growth.

Officials said a dedicated session on ''From Local Innovation to Global Impact: BRICS Cooperation for a Youth-Led Startup Ecosystem'' brought together participating BRICS countries to present their experiences, initiatives, and best practices in the field of entrepreneurship.

Addressing the session, Union minister Raksha Nikhil Khadse said, ''When BRICS nations work together and learn from each other, local innovations can create global impact.''.

She also highlighted India's rapidly growing startup ecosystem and noted that youth from smaller towns and Tier-2 and Tier-3 cities are increasingly building successful enterprises, reflecting the country's commitment towards inclusive and youth-led innovation.

Speaking to reporters earlier, the Union Minister of State for Youth Affairs and Sports said several initiatives have been taken over the last 10 years under PM Modi's leadership to promote startups and innovation-driven enterprises in the country.

''At present, more than two lakh startups are active in India, and their reach has expanded not only to major cities but also to smaller towns,'' she said.

The first day of the two-day meeting in Indore also featured thematic panel discussions focusing on digital innovation and technology-driven entrepreneurship, social and inclusive entrepreneurship, and green entrepreneurship and climate-positive business models, said officials.

The discussions explored emerging opportunities for young entrepreneurs across sectors such as AI, fintech, agritech, sustainability, and clean energy, while also highlighting the importance of inclusive growth and community-driven enterprise, they said.