Piyush Goyal, Minister of Commerce & Industry, Government of India, stated that we have a billion minds to tackle a million problems, while addressing the SCO Startup Forum on 27th October organized by Department of Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India, Confederation of Indian Industry (CII) and Start-Up India. The minister was referring to the vibrant startup ecosystem of India, which is the third largest in the world. The Minister stated that the Startup India initiative launched by Prime Minister Shri Narendra Modi has fueled the spirit of entrepreneurship in the youth. Studies reveal that the average age of young entrepreneurs is 31 years and they have come out with critical applications and breakthrough technology that were necessary for the country to tide over the effects of Covid.
Goyal said that a robust partnership between the SCO member states will go a long way in fostering mutual innovation, empowering startups, sharing of best practices, promoting incubators, build a knowledge capital, promote trade, provide market access, in addition to helping all key sectors of the economy, including education, tourism etc. He mentioned that it is a collective responsibility to frame a sound policy ecosystem that nurtures startups, provides a safe environment and promotes faith in entrepreneurs.
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