This is a century of digital revolution, PM tells startups

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Modi wants enhanced connectivity and business relations in BIMSTEC

The Prime Minister Narendra Modi has highlighted that this century is a century of digital revolution and new age innovations with the vibrant energy in the startup space in BIMSTEC countries like Bangladesh, Bhutan, India, Nepal, Sri Lanka, Myanmar and Thailand.

Therefore, it is the demand of our time that future technology and entrepreneurs should come from the region, said Modi, underlining that “this is also the century of Asia”.

He called on Asian counties, with will for collaboration, to take responsibility and come together. “There is a shared heritage of culture, civilization and relations in these countries. We share our thoughts, our ideas and wellbeing, therefore our success will also be shared. This responsibility, naturally falls on BIMSTECF countries as we work for one fifth of humanity,” said the Prime Minister.

Modi saw new possibilities in the impatience, energy and eagerness of the youth of the region. That is why, he said, he had called for collaboration for technology and innovation at BIMSTEC summit in 2018 and proposed a BIMSTEC Start Up Conclave. Today’s Startup India International conclave is a step in the direction of fulfilling that pledge, he told delegates at the ‘Prarambh: Startup India International Summit’ through video conferencing on 16 Jan 2021.

He outlined the ongoing steps in enhancing connectivity and business relations among the countries of the region and recalled BIMSTEC Ministers participation in India Mobile Congress in 2018 to promote digital connectivity.

Similarly, collaboration is on in sectors like defence, disaster management, space, agriculture and business. “Strong relations in these areas will benefit our startups leading to a value creation cycle, meaning, deepening ties in fields like infrastructure, agriculture and business will create new opportunities for our startups which in turn lead to growth in these sectors”, hoped Prime Minister Modi.

He also pointed out that 45% of India’s startups are in tier 2 and tier 3 cities, working as the brand ambassadors of the local products. Every state is supporting and incubating startups as per local possibilities and 80% of the country’s districts are now part of the Startup India mission.

He pointed out new possibilities in food and agriculture area as people are becoming more aware about their diet. India has paid special attention to the growth of these sectors as an Agri Infra Fund has been created with a capital base of Rs.1 lakh crore. With these new avenues, startup are collaborating with farmers and playing a significant role in taking products from farm to table with better ease and quality.

The Prime Minister said that the biggest USP of the startup world is its disruption and diversification capacity. “Disruption, as startups are giving rise to new approaches, new technology and new ways. They are changing the time-worn ways of thinking,” elaborated Modi.

Diversification because a large number are coming up with diverse ideas bringing revolution is diverse sectors with unprecedented scale and substance. They are revolutionizing multiple sectors The greatest feature of this ecosystem is that it is guided more by passion than pragmatism. “This ‘can-do’ spirit is evident in the way India is working today,” the Prime Minister explained.

He gave an example of the BHIM UPI which has revolutionized the payment system as only in December 2020, Rs.4 lakh crore worth of transections took place through UPI in India. #startups #technologies #investment #innovations /fiinews.com

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