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Govt to boost electronics manufacturing to Rs 24 lakh cr
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IANS | 17 Mar, 2023
The Narendra Modi government's target is to increase electronics
manufacturing capability to Rs 24 lakh crore by 2025-26, which will also
help create over 10 lakh jobs, Union Minister of State for Electronics
and IT, Rajeev Chandrasekhar, said on Friday.
Addressing
a gathering of students here as part of the 'New India for Young India
Initiative', the minister said that young Indians are driving the
country's progress in India's 'Techade'.
"There are more than
90,000 startups, including 110 unicorns, in which Young Indians are
playing a big part. They have achieved their success due to their hard
work and efforts and not because of any connections or famous last name,
" he told a packed audience.
Chandrasekhar had an interactive
session with students in which, he answered their queries ranging from
skilling, R&D and innovation ecosystem, entrepreneurship
opportunities and Microsoft co-founder Bill Gates' recent meeting with
him.
On a query about the Silicon Valley Bank (SVB) crisis and
Indian government's role to mitigate the woes of the startups, the
minister said, the country's banking system is much more resilient and
stronger in comparison to any other country's banking system.
"The startups should, therefore, opt for Indian banks as their preferred banking partners," he added.
The
minister had earlier said that over a billion dollar worth of capital
"attributable to Indian startups" was stuck in deposits at SVB when it
collapsed.
Chandrasekhar also informed that over $250 million have been transferred from SVB to GIFT City banks in the last few days.
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