LAUSR

The most important factor in the development of the global economy is the intensification of international innovation processes. The degree of state involvement in the international innovation market determines the overall level of national economic competitiveness. However, the pace and scale of innovation in the Russian economy are insufficient. At the same time, innovation processes are closely linked to integration processes. Currently, the role of international integration associations is increasing; as significantsubjects of the global economy, they directly interact with other associations, states, transnational corporations and international institutions. In this context, this article analyzes the development of innovation in the BRICS grouping of Brazil, Russia, India, China and South Africa, identifying and describing the preconditions and prospects for cooperation in this field. In this regard, first, the article investigates the development of innovation in the BRICS countries by analyzing the statistical data using the index method todetermine the key achievements and problems of countries in this field. Second, it identifies the preconditions and prospects for innovation cooperation among the BRICS countries. This article demonstrates that, despite the obvious leadership of China, all BRICS countries have advantages of development. It also shows that in different years joint research projects of the BRICS countries have been successfully implemented. However, active cooperation began in 2015. The main international agreements are the Memorandum of Understanding on Cooperation in Science, Technology and Innovation; the Strategy for BRICS Economic Partnership; and the BRICS Science, Technology and Innovation Work Plan 2015-2018. This article concludes by identifying a number of measures aimed at stimulating further innovation development of the BRICS countries. This article extends the knowledge about the innovation development and cooperation of the BRICS countries .