Efforts on to strengthen innovation, entrepreneurship and start-up ecosystem in India: PM Modi
The government is working to institutionalize innovation in the country by creating attraction towards it among students, the PM said
Prime Minister Narendra Modi on Saturday interacted with Startups via video conferencing and listed three important aspects of the massive changes that the government is making in this decade to strengthen the innovation, entrepreneurship and start-up ecosystem.
He said: “First to liberate entrepreneurship and innovation from the web of government processes, bureaucratic silos. Second, creating an institutional mechanism to promote innovation. And third, handholding of young innovators and young enterprises”
He listed programmes like Startup India and Standup India as part of the efforts.
He said measures like removing problems of ‘angel tax’, simplification of tax procedure, arranging for government funding, allowing self-certification of 9 labour and 3 environment laws and removal of more than 25 thousand compliances have taken the process further. Startup runway on the Government e-Marketplace (GeM) platform is facilitating the provision of startup services to the government, he said.
The Prime Minister said the Government’s effort is to institutionalize innovation in the country by creating attraction for innovation among students since childhood. “More than 9000 Atal Tinkering Labs are giving children a chance to innovate in schools and work on new ideas. He added that whether it is new drone rules, or new space policy, the priority of the government is to provide opportunities for innovation to as many youth as possible. Our government has simplified the rules related to IPR registration too,” he added.
The Prime Minister noted the exponential rise in the indicators of innovation. He said that in the year 2013-14, 4000 patents were approved, last year, more than 28 thousand patents were granted.
In the year 2013-14, where about 70000 trademarks were registered, in 2020-21 more than 2.5 lakh trademarks have been registered. In the year 2013-14, where only 4000 copyrights were granted, last year their number has crossed 16000.
The Prime Minister pointed out that India’s campaign for innovation has resulted in improvement of India’s ranking in Global innovation index where India stood at 81 rank but now India stands at 46 rank in the index.
Prime Minister Modi informed that startups of India are working with 55 separate industries and the number of startups has increased from less than 500 five years ago to more than 60 thousand today. The Prime Minister said “Our Start-ups are changing the rules of the game. That's why I believe Start-ups are going to be the backbone of new India.”
The Prime Minister noted that last year, 42 unicorns came up in the country. These companies worth thousands of crores of rupees are the hallmark of self-reliant and self-confident India. “Today India is rapidly moving towards hitting the century of the unicorns. I believe the golden era of India's start-ups is starting now”, he added.
The Prime Minister underlined the role of empowerment by entrepreneurship in addressing the problems of development and regional-gender disparities. He mentioned that today, there is at least one startup in each of the 625 districts of the country and more than half of the startups are from tier 2 and tier 3 cities. These are converting ideas from ordinary poor families into businesses and lakhs of young Indians are getting employment.
Narendra Modi singled out India’s diversity as a key strength and keystone of India’s global identity. He said that Indian unicorns and startups are the messenger of this diversity.
The Prime Minister said start-ups from India can easily reach other countries of the world. So “don't just keep your dreams local, make them global. Remember this mantra- let's Innovate for India, innovate from India”, he exhorted the innovators.
The Prime Minister suggested many areas where the startup ecosystem can play a major role. He said that extra space on the PM GatiShakti National Master Plan can be used for EV charging infrastructure. Similarly, areas like defence manufacturing, chip manufacturing offer many possibilities.
He dwelled on the drone sector and said that many investors have been investing in drone startups after the new drone policy. Army, Navy and Air Force have given 500 crore rupee worth orders to drone startups. In urban planning, the Prime Minister touched upon ‘walk to work concepts’, integrated industrial estates and smart mobility as potential areas.
The Prime Minister remarked that the millennials today are the cornerstone of both the prosperity of their families and the self-reliance of the nation.
“From rural economy to Industry 4.0, both our needs and our potential are limitless. Investment on research and development related to future technology is the priority of the government today”, he said.
Referring to the future prospects, the Prime Minister said that as of now only half of our population is online, therefore future possibilities are immense and he appealed to the start- ups to move towards villages also.
“Whether it is mobile internet, broadband connectivity or physical connectivity, aspirations of villages are rising and rural and semi-urban areas are waiting for a new wave of expansion”, he said.
The Prime Minister told the startups that this is a new era of innovation i.e. ideas, industry and investment and their labor, enterprise, wealth creation and job creation should be for India.
“I am standing with you, the government is with you and the entire country is standing with you”, he concluded.