The Union Cabinet chaired by the Prime Minister Narendra Modi on 24th October 2018 has approved for the Memorandum of Understanding (MoU) among Brazil, Russian Federation, India, China, and South Africa, regarding cooperation in the social and labor sphere.
The MoU was signed on 3rd August 2018, during BRICS Labour and Employment Ministers (LEM) Meeting.
Under the agreement, the parties including India have agreed to cooperate and hold mutual events in the prominent areas namely labor legislation and enforcement, protection of workers' rights with a focus on vulnerable groups, employment and labor market policies, professional education, skills and training and social protection.
All the member countries may utilise the BRICS Network of Labour Research Institutes and BRICS Social Security Cooperation Framework for cooperation on social security and other labor issues.
The MoU provides a mechanism for cooperation, collaboration and maximum synergy amongst BRICS member countries with the common objective of inclusive growth and shared prosperity in the new industrial revolution.