Agrawal elaborates on government’s emphasis on innovation and R&D
Startups and MSMEs are the backbone of Indian economy and are bearers of innovation, resilience and the entrepreneurial spirit that defines the country’s journey to industrialization, Vice President Jagdeep Dhankhar said at a PHDCCI’s Bharat Startup & MSMEs Summit-2024 held 16 Feb.
“Startups and MSMEs are the birthplace of ground-breaking ideas and technologies, pushing the boundaries of what is possible,” he said, adding that by providing local solutions, creating jobs, and promoting regional development, they play a crucial role in empowering communities.
MSMEs contribute significantly to employment generation, regional development, and inclusive growth, noted the Vice President. “They account for about 30% of India’s GDP, 45% of manufacturing output, and provide employment to over 11 crore individuals.”
Empowering the common person to think big beyond urban interests is crucial, he went on.
“While vertical growth is necessary, horizontal development is equally vital. Gender neutrality must be prioritized without delay, the reservation introduced last year isn’t political but indispensable.
“Women are excelling across sectors, from Defense to ISRO, driving national progress.”
Dhankhar continued, “To advance this momentum, our government has launched the Women Entrepreneurship Platform, bolstering female entrepreneurs. Economic nationalism is imperative for our nation’s prosperity and sovereignty.
“Let us all commit to supporting the growth of startups and MSMEs, to fostering an environment where innovation thrives, and to working together towards a future that is prosperous, sustainable, and equitable.”
PHDCCI President Sanjeev Agrawal elaborated in his address how the government’s emphasis on innovation and R&D has positioned India as a global hub for cutting-edge solutions.
“Initiatives such as the Atal Innovation Mission, SIDBI Fund of Funds and Startup India have catalyzed a culture of problem-solving and technological advancements, making India a cradle for innovation.”
Cultivating an entrepreneurship culture has been at the forefront of the government’s agenda. By fostering an environment that encourages risk-taking, creativity, and resilience, the government has empowered countless individuals to turn their visions into realities, contributing to the nation’s prosperity, he said.
PHDCCI Senior Vice President Hemant Jain emphasised that the Government of India has been the backbone of our entrepreneurial ecosystem, launching numerous initiatives aimed at creating a conducive environment for startups and MSMEs.
“With more than 110 unicorns, India’s entrepreneurial landscape is a testament to our collective vision and relentless pursuit of innovation. The government’s focus on MSME development and entrepreneurship training ensures that this demographic potential is harnessed to its fullest, driving India towards unprecedented economic heights.”
PHDCCI Executive Director Dr. Ranjeet Mehta underlined, “Policymakers and industry leaders to entrepreneurs and investors, your collective wisdom and engagement will be invaluable in charting the course for transformative change in the startup and MSME ecosystem.” Fiinews.com
