Shri Piyush Goyal says that New-age entrepreneurs are going to change the fortune of India;

Minister Calls for working together to make India the innovation hub truly;

Shri Goyal exhorts senior business leaders to become mentors to the new-age entrepreneurs.

Union Minister of Commerce and Industry & Railways Shri Piyush Goyal has said that New age ideas will help us prepare India to contribute in a much bigger way to global supply chains. Addressing CII's event on ‘Launch of India's Future Business Group' today, he said that New-age entrepreneurs would change India's fortune. He said, “We need to build a platform with like-minded countries and trusted partners to promote new-age businesses in India.” India can engage with other countries and build up a platform with trusted partners to promote new-age businesses, he added.

The Minister said that it is the youngsters who will change the fortune of India, create jobs & bring prosperity to the people. “We have a huge startup ecosystem in India. It's more about recognizing our capabilities, uplifting our entrepreneurs. Some of the ideas that youngsters have come up with are truly revolutionary.” He suggested that Colleges should look at entrepreneurship or other courses around new-age businesses. We can also look at more vocational training & assessment process to see what is in the young person's mind, he added.

Talking about the improvement in India's rank from 52 to 48 in the Global Innovation Index, Shri Goyal said, “Let us all work together to make India the innovation hub truly. We have a huge startup ecosystem. I do not doubt that the industry's spirit will even encourage even the Government to proactively go forward with new ideas & processes to make it easier & simpler to do business in India. No power on earth can stop us from succeeding”.

Speaking about the innovation in Railways, Shri Goyal said that in the last six years, our Indian coach making factories have not only stopped making old coaches, but we are also now making better LHB coaches. As a result of this, in the last 17 months, not even a single Railway passenger has died because of a Railway accident.

Shri Goyal said that the real startup entrepreneur with ideas is the Prime Minister. Narrating an anecdote, Shri Goyal said that while discussing the need of fencing the railway tracks for the high-speed trains, Shri Narendra Modi suggested bidding solar projects along Railway tracks, which will bring in Low-cost power, Private investment, make the track secure and also Railways eco-friendly.
Shri Goyal called upon the senior business leaders to become mentors to their own family or businesses and the new age & young entrepreneurs. He said, “I would appeal to them to allocate quality time for this. It will encourage the youngsters”.

The Minister referred to the Aatmanirbhar Bharat as only the beginning of India's self-realization of its potential to grow, which will contribute to the global economy from a position of strength and trusted partner in resilient global supply chains. He said that India has tremendous potential for new businesses. He said, “The objective is to get growth back in India. We will all have to work collectively to achieve that. The Prime Minister once said, “We have a million problems, but we have a billion minds simultaneously. Our industry has truly demonstrated the intelligent Indian entrepreneur's capabilities and the ability to surpass traditional businesses to promote new-age businesses. India has immense capability & strength to grab the future. We will overcome the pandemic faster than anybody imagines.”

Source: Press Release
Release ID: 1650967
PIB Delhi
Ministry of Commerce & Industry
Date: September 03, 2020