Addressing the students, he said, "I wish to see many upfront entrepreneurs from LPU."
The US, Japan, Taiwan, South Korea have advanced in technology and research and have grown rapidly by targeting global market, Jaitley said.
The Union minister also inaugurated a three-day International Day of Peace event at the university.
Punjab Governor V P Singh Badnore, who presided over the event asked the students to be innovative in their approach
Before the programme, a two-minute silence was observed to pay homage to the soldiers killed early this morning in a terrorist attack in Uri town of Jammu and Kashmir.