Modi-govt focussed on innovation, tech development: Nirmala Sitharaman

She inaugurated the fifth campus of BITS Pilani in Mumbai, spread over 63 acres and with an investment of Rs 1,500 crore

After effectively managing challenges during the pandemic and ensuring robust economic growth in the aftermath, the Modi government is focused on "Innovate from India" and "Innovate for India," Union Finance Minister Nirmala Sitharaman said today.

Sitharaman in her address at the Mumbai campus of BITS Pilani, said the government is investing in semiconductor technologies in terms of manufacturing, designing, and packaging in a big way. "Today, there are three to four states, and probably the fifth one is going to come in the next few weeks. Semiconductor investments are greatly supported by the government." Besides the main campus at Pilani, the other three campuses are situated in Hyderabad, Goa, and Dubai

She inaugurated this fifth campus of the educational institution, spread over 63 acres and with an investment of Rs 1,500 crore. Its management school (BITSoM), law school (BITSLAW), and design school (BITSDES) will be housed in this residential campus, designed to accommodate 5,000 students at peak capacity.

Referring to the thrust on innovation, the finance minister said in the latest Budget (vote on account) for 2024-25, a corpus of Rs one trillion for a special purpose vehicle has been announced. This will fund innovations, research, and development activities.

She suggested that students should do a case study on how India has come out of Covid-19 how we have faced the two wars that are simultaneously going on, and how Red Sea or piracy-related uncertainties have affected supply chains.

"The Modi government has followed a minimum government and maximum governance model. This has enabled the government to be very receptive to public suggestions and be responsible for changing administration and its requirements towards meeting the expectations. Transparency has been the biggest asset in this government," Sitharaman said.

Kumar Mangalam Birla, Chancellor of BITS Pilani, said, "The new campus will create an enabling environment that sparks creativity, excellence, and collaboration, emerging in the process as a talent factory for the New India envisioned by our Honourable Prime Minister."

This digital-first campus has state-of-the-art infrastructure for classrooms, multimedia studios (including video and podcast rooms), and a start-up incubation centre.

The new campus has a vision to work towards a zero-carbon footprint. It has been built on a zero-discharge scheme with 100 per cent recycled water utilisation, energy-saving lighting systems, and solar power.