Every crisis can be converted into an opportunity like that of Covid-19, he said

The Ukraine-Russia crisis is a wakeup call not to be dependent on others for crude oil and defence equipment, Union Minister of Commerce & Industry Piyush Goyal has said.

Asking startups to help India become self-reliant in energy needs, he noted that some of them were also looking for innovative ways for indigenization of defence equipment.

Speaking at the ET Startup awards in Bengaluru on Saturday, Goyal argued that every crisis can be converted into an opportunity like that of Covid-19.

"The ‘biggest of the century’ crisis was converted into an opportunity, wherein many of our boys and girls came up with innovative solutions to the problems," Goyal pointed out, according to a statement issued by the Ministry of Commerce & Industry on Sunday.

The Commerce & Industry Minister noted that the present situation fits in beautifully in the Make in India programme launched 8 years ago. The Atmanirbhar Bharat initiative, and the outcome of Covid-19, everything collectively was helping India’s growth trajectory, he added.

During an interactive session, Goyal listed several illustrations where the Startups could provide solutions to resolve problems. The Minister assured the Startups that government was listening to their needs, and that its doors are open 24×7.

Economic Times Startup Awards were presented in nine categories, - Startup of the year, Midas Touch, Women Ahead, Comeback Kid, Best on Campus, Social Enterprise, Top Innovator, Boots Trap Champ and Covid-led Business Transformation.