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Last updated: 21 May, 2024  

Manufacturing.9..Thmb.jpg Innovators, startup founders hail India's tech evolution in last 10 years

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IANS | 21 May, 2024

The country has become the top innovator in the world in cutting-edge sectors like manufacturing, startups, digital public infrastructure (DPI), aerospace, space and defence in the last 10 years, and the next ‘techade’ will be even more exciting, top IT professionals, innovators, entrepreneurs and technocrats have stressed.

During an interaction with Union Ministers Hardeep Singh Puri and Rajeev Chandrashekhar as part of ‘Vishesh Sampark Abhiyan,’ the innovators said initiatives such as Atal Innovation Mission, Start-up India, Stand-Up India and Digital India have resulted in the transformation of Indian economy.

Minister Puri said India’s economy, which was the 10th largest in the world in 2014, has become the 5th largest now and will soon become the third largest economy.

The number of unicorns has increased from four in 2015 to 130 in 2024, he informed.

Speaking at the event, Minister Chandrasekhar said the expansion of the footprint of the digital economy in the last decade is unprecedented and India has become the fastest-growing digital economy in the world.

“This government and their initiatives enabled a small-town boy like me to build something like Zomato, which employs lakhs of people today,” said Deepinder Goyal, CEO of the leading online food delivery platform.

Rajan Anandan, Head, of Peak XV, said that post the reforms of 2014, the number of active mobile phone data users in India has become more than 800 million, which is more than in the US and China combined.

“Because of the ecosystem provided by the government in the last 10 years, India has become the top innovator in cutting-edge sectors like aerospace, space and defence, which was unthinkable in the past,” Anandan noted.

Mamaearth Founder Varun Alagh said that it couldn’t have been possible but for the ecosystem provided by the PM Modi government to build a company from scratch.

In the next five years, said Alagh, the focus has to be on creating good jobs, producing quality and focusing on research.

Sunil Vachhani, Chairman of Dixon Technologies said that before 2014, we used to import almost 100 per cent of our mobile phones and electronics and now, we are making almost 100 per cent of our mobile phones.

“With the policies of the current government, we will very soon export mobile phones worth $100 billion,” he added.

According to Abhiraj Bhal, Founder, Urban Company, the government was highly instrumental in helping them generate a certified skilled workforce.

“We now employ 57,000 people in 62 cities. Startup India initiative helped us brainstorm for hours and create a highly conducive startup ecosystem,” he said.

Rohan Verma, CEO, Map My India, said that this government has unlocked the tremendous opportunity in space and geospatial over the last four years.

“Earlier, it was very difficult to work and all technology in the geospatial sector was very restricted. But when we reached out to Niti Aayog, they got the policies amended, enabling us to serve the country and make us atmanirbhar,” he noted.

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