BRICS adopts Chennai Declaration to advance science and technology cooperation

Under India’s BRICS chairship, member nations have unanimously adopted the ‘Chennai Declaration’. This consensus aims to establish a resilient framework for science, technology, and innovation (STI) with a focus on sustainable development, social inclusiveness, and humanity-centered growth.

Union Minister Jitendra Singh highlighted that the cooperation will address emerging frontiers such as artificial intelligence, quantum technologies, biotechnology, and high-performance computing. The initiative includes support for the BRICS Youth Startup Platform and various thematic working groups to foster research and talent mobility.

Separately, a research report from Nuvama warns that a potential slowdown in the global artificial intelligence capital expenditure boom could trigger a reversal in capital flows. Such a shift might see Asian savings return to their home regions, potentially increasing balance-of-payments pressure on the United States, weakening the dollar, and keeping US Treasury yields elevated.