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PM Modi calls for innovating for India At Interaction With Startups

Modi said easier access to funds as well as making self-certification for compliance of nine labor and three environment laws is helping promote startups.

PM Modi during his interaction called upon the youth to make their dreams global, and not just local. (Photo: ANI)

New Delhi: Prime Minister Narendra Modi on Saturday called for innovating for India and from India to tackle challenges facing the country as he counted steps taken by the government in freeing entrepreneurs and innovation from bureaucratic silos.

“Our startups are changing the rules of the game. I believe that startups are going to be the backbone of New India,” he said interacting with youngsters from the world of startups. “Let us innovate for India, innovate from India.” India, he said, has over 60,000 startups with 42 unicorns.

The government is focusing on three aspects to strengthen innovation, entrepreneurship and startup ecosystem – “Freeing entrepreneurship, innovation from government and bureaucratic silos; setting up institutional mechanisms to promote innovation, and handholding of youth innovators,” he said.

Narrating successes during the recent years, he said 28,000 patents were granted last year as compared to 4,000 patents in 2013-14. Against registration of 70,000 trademarks in 2013-14, 2.5 lakh trademarks have been registered in 2020-21.

“India’s ranking on the Global Innovation Index is improving because of the programme on innovation started in the country. India was ranked 81 in 2015 and now it is at No. 46,” he said.

Startups are not just bringing innovations but are also evolving as major job creators. The year 2022 has brought new opportunities and avenues for startups, he said adding January 16 will be celebrated as National Startup Day to help percolate startup culture to the grassroot level.

ALSO READ: Indian Innovators Making Country Proud, Says PM Modi At Interaction With Startups

Modi said easier access to funds as well as making self-certification for compliance of nine labor and three environment laws is helping promote startups. Innovation and technology based solutions are being encouraged for finding solutions to challenges facing the country, he said.

According to Prime Minister’s Office (PMO), the event was hosted by the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, from January 10 to 16. The event marks the 6th anniversary of the launch of the Startup India initiative.

During his virtual interaction, PM Modi also said, ” There’s at least one startup in at least 625 districts across India. Nearly half of India’s all startups are in Tier-II or Tier-III cities”. It shows that people from all classes are converting their ideas into businesses, he added.

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PM Modi during his interaction called upon the youth to make their dreams global, and not just local. ‘Let us innovate for India, innovate from India’, PM Modi told young innovators.

The aim of the interaction was to understand how startups can contribute to national needs by driving innovation in the country.

“Startups from various sectors including Agriculture, Health, Enterprise Systems, Space, Industry 4.0, Security, Fintech, Environment etc were part of this interaction,” PMO said.

PMO further said that the Prime Minister has been a firm believer in the potential of Startups to contribute significantly to the growth of the nation.

(With PTI, ANI Inputs)

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