The minister said that the youth have adopted new ways to cope with the uncertain circumstances

India has provided its entrepreneurs with a solid start-up ecosystem, Commerce and Industries Ministries Piyush Goyal said at the inauguration of 1st Shanghai Cooperation Organisation (SCO) Startup Forum on Tuesday.

The minister wrote on Twitter, “Futuristic vision combined with decisiveness has provided India with a solid Startup ecosystem. PM @NarendraModi ji has been at the forefront of India’s engagement with the startups.”

“We provided an encouraging framework to have more Startups come up with brilliant ideas”, he added. He said that the Prime Minister has been at the forefront of India's engagement with the start-ups. The Prime Minister Shri Narendra Modi has said, “Startups are the engines of exponential growth manifesting the power of innovation.”

Some of the ways in which the Indian government is helping start-ups to grow is to acknowledge their work. “India recognised some very interesting Startups in the first-ever national Startup award programme and we provided an encouraging framework to have more Startups come up with brilliant ideas,” he said.

Calling youth, the wealth of this country, he said that youth has adopted new ways to cope with the vulnerable and uncertain circumstances. He said that the startups have converted the severe adversity into great potential of the future.

He said, “All our youngsters have created many critical applications which have helped many sectors go digital and face the problems of the pandemic with confidence & emerge successfully as we unlock the economy and expand economic activity.”

India’s start-ups have demonstrated high energy & enthusiasm to give many timely & cost-effective solutions, he said further.

The Commerce and Industries Minister said that Indian start-ups have been energetic and enthusiastic in fighting this pandemic.

He said, “Our hunger for growth is demonstrated by the number of EdTech apps for upscaling & education which have provided free access to content for learning to millions of Indians during the COVID period.”

Quoting former President Dr APJ Abdul Kalam, he said, “Our Former President Dr APJ Abdul Kalam said, "Knowledge with action converts adversity into prosperity." Our Startups have demonstrated their ability to convert this severe adversity into a great potential of the future.”

Sharing his views on how start-ups can take ahead their mission of creating useful services, he wrote, “Sharing our best practices & knowledge, engaging corporates & investors, Monetising & mobilising capital -Setting up incubators and Providing exposure & scale. Through these innovative ideas, startups will get larger engagement.”

The minister also acknowledged India’s women in start-ups. He said, “I am delighted that today's program has several sessions including exclusive discussions to promote women entrepreneurship. In India, a large number of startups have been founded by women.”

He appreciated SCO’s efforts to promote start-ups in the member countries calling the launch of SCO Startup forum a reflection of the positive attitude to further expand the engagement.