IANS | 18 Nov, 2022
Union
Minister of Commerce and Industry Piyush Goyal has said that technology,
innovation and problem-solving approach of start-ups is a force
multiplier which will help India acquire global dominance in the sphere
of technology and innovation.
He was speaking at the 25th Bangaluru Tech
Summit in Bengaluru today.
Speaking
on the occasion, Goyal said that Indian Start-ups are almost
playing the role of a booster dose in the post pandemic recovery that
India is leading from the front.
Despite geo-political challenges that
has pushed world trade back and when countries are falling into
recessionary mode, it is our bright young boys and girls who have helped
India lead global recovery, he said.
Goyal gave examples of the recent big innovations by the Indian
tech industry that have been noticed in the world.
He said that
initiatives like unified payment gateway, UPI, managing Covid
vaccination and a common identity card for over a billion people in form
of Aadhaar Card, health care through Ayushman Bharat and supply of
rations seamlessly to the poorest with One nation one ration card –
these are all examples of platforms developed by our young innovators.
Speaking
of the resilience of Indian economy, the Minister said that our
inflation is in fact falling and even today it is half the level it used
to be ten years ago. We have a situation where through eight years of
relentless efforts to strengthen the basic structure of Indian economy
and having mandated the central bank in 2014-15 to keep inflation in
check we have had an average rate of inflation of about 4.5 percent over
this period, he said. We still have inflation fairly under control at
6.5 percent, he added.
He expressed the confidence that we will continue
to power the world economic recovery and when we reach 100 years of
independence in 2047 we will certainly be among the top three economies
in the world.
Speaking
of Bengaluru, Goyal said that the city has truly unleashed a new
era for India as we march on the journey to become a developed nation.
On this occasion we can look back on the laurels that Bengaluru has
achieved, he said.
He pointed out that over 40 out of the 100 unicorns
are housed in Bengaluru and a huge ecosystem has been created here in
form of private equity investors, venture capitalists, R&D centres,
incubation centres, the very high quality of talent and manpower skills.
Karnataka and Bengaluru are the flagbearers of India of tomorrow, he
added.
Speaking of the ONDC initiative, Shri Goyal said that the government
under the guidance of Narendra Modi is trying to democratise
ecommerce.
The government is trying to save the small mom and pop stores
by giving them an opportunity to participate in the vibrant ecommerce
network, he said. Bengaluru will have a big role to play in this
development and when this initiative succeeds and is known globally, it
will be remembered that it started in Bengaluru with the initial testing
being done in this city, he added.
Goyal pointed out that India has taken up the presidency of G20 this
year from 1st of December. It is great opportunity to showcase India’s
achievements and opportunities to the rest of the world, he said.
We are
together going to work to make sure that our start-ups and innovators
get the opportunity to present themselves at the world stage, he added.