India’s Prime Minister Narendra Modi has set clear goals: he wants his country to emerge as an innovation hub in the years ahead. To make this happen, he and his government will give ‘absolute support’ to innovation and entrepreneurship, he assured participators in a Digital Dialogue event.
The stakes are very high, Narendra Modi underlines. ‘The world is changing, quicker than ever before, and we cannot remain oblivious to that. If we don’t innovate, if we don’t come up with cutting edge products, there will be stagnation.’
Start-ups have a particularly significant role to play. They are the ‘the engines of exponential growth, manifesting the power of innovation’. Some have already grown into large companies, keeping their ‘spirit of enterprise and adventure alive […] due to hard work and perseverance’, and have become ‘shining beacons of innovation’, the Prime Minister added.
Technology development is also vital, as it ‘empowers the less empowered’. To cope with the many challenges ahead, on such a vast scale, and to strengthen the country’s digital infrastructure, Modi recently launched the Digital India initiative – to which several companies, including Tata, Wipro and the Ambani brothers, have already pledged 4,500 trillion rupees ($70bn or £44bn).
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