 "Entrepreneurship a viable path to economic rejuvenation: TAC Security head")
Entrepreneurship presents a viable path to economic rejuvenation and a thriving entrepreneurial ecosystem can drive sustainable growth, leading cybersecurity major TAC Security founder Trishneet Arora has said.
Arora believes that fostering a culture of entrepreneurship can be the key to revitalising Punjab's economy and addressing its financial woes and the path to Punjab's prosperity lies in collaboration between entrepreneurs and the government.
He envisions a synergistic relationship where the government provides the necessary infrastructure and policy support, while entrepreneurs drive innovation and growth.
This partnership can create a conducive environment for businesses to thrive, ultimately benefiting the state's economy, he said.
"Technology and AI have the potential to revolutionize farming in Punjab by enhancing productivity, reducing costs, and ensuring sustainable agricultural practices," Arora said.
TAC Security is listed on the National Stock Exchange (NSE) and has a market capitalization of Rs 800 crore.
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The government, on its part, must recognize the potential of entrepreneurship as a catalyst for change and work towards creating an environment that nurtures and supports business innovation, he said.
With a staggering debt of Rs 3.74 lakh crore, the state's financial health is in dire need of rejuvenation, he said.
Punjab's economy has traditionally been driven by agriculture. However, the need for diversification is more pressing than ever, he said.
"With precision farming techniques, real-time data analytics, and AI-driven crop management, farmers can optimize their resources, predict yields, and mitigate risks more effectively.
"Embracing these advancements will not only boost the agricultural output but also improve the livelihoods of our farmers, making Punjab a leader in modern farming", he said.
By providing mentorship, investing in education, and fostering a conducive business environment, the government can pave the way for the emergence of new business leaders, he said.
One of the pressing challenges Punjab faces is the exodus of its youth seeking opportunities abroad. To stop this brain drain, Arora emphasizes the need to create an environment where young talents see a future within the state.
This involves not only job creation but also fostering innovation hubs, providing access to capital for startups, and ensuring robust infrastructure, he said.
"By showcasing successful local role models and creating avenues for growth and development, we can motivate our young people to stay and contribute to Punjab's progress," he said.
Arora was named in the Forbes 30 Under 30 Asia list in 2018 and featured in Fortune India's 40 Under 40 list of India's Brightest Business Minds in 2019.
In a remarkable recognition, the Mayor of Santa Fe, USA, declared August 25th, 2017, as "Trishneet Arora Day" in honor of his vision towards the future of cybersecurity. Additionally, he has been listed in GQ's The 50 Most Influential Young Indians alongside notable entrepreneurs such as Akash Ambani.