Along with Make in India, 'Design in India' is also essential, says PM Modi
Prime Minister Narendra Modi on Wednesday interacted with young innovators and startup entrepreneurs via NaMo App.
Praising young generation for the development of startups in India,Pm Modi said, "India is a youthful nation. Today's youngsters are becoming job creators. We are committed to harnessing of demographic dividend.
"PM Modi said, "We in the Government understand that youngsters may face shortage of funds for their startups. That is why a 'fund of funds' has been started by the Government to facilitate more youngsters to innovate and ideate." He also said that the Government e-Marketplace (GeM) platform has been linked to startup India.
"Adequate capital, courage and connecting with people are required for excelling in the startup sector. There was a time when start-ups meant only digital and tech innovation. Things are changing now. We are seeing start-up entrepreneurs in different fields," he said.
"India has distinguished itself in the global start-up eco-system. Start-ups are no longer only in big cities. Smaller towns and villages are emerging as vibrant start-up centres," he added.
Make In India is now a brand that the world talks about. An example of this is: four years ago, there were only 2 factories that manufactured mobile phone. Now there are 120. We also want to start "Design India" in tandem with Make in India. I feel its the need of the hour now that Make in India is well established.
"Our startups are growth engines. Today's big companies were startups at some point. I urge the people of India to keep innovating," he added. He also said that the youth in India is now creating jobs and the government is committed to harnessing the demographic dividend.
Commenting on the issue of fund availability for startups, Modi said the government has created a Rs 10,000 crore Fund of Funds. He also said startups can sell their products to the government and it has eased public procurement norms for them. India has distinguished itself in the global startup ecosystem, the Prime Minister added.