Futuristic vision combined with decisiveness provided India with solid startup ecosystem: Piyush Goyal

Union Commerce and Industry Minister Piyush Goyal on Tuesday said that futuristic vision combined with decisiveness has provided India with a solid startup ecosystem.

At the inauguration of the first Shanghai Cooperation Orgsation (SCO) Startup Forum, he said that youth is our wealth, and in these times of vulnerability and uncertainty, they have responded with agility, adaptability and ability.

According to an official release, Goyal said, "Our startups have demonstrated their ability to convert this severe adversity into a great potential of the future. Our hunger for growth is demonstrated by the number of EdTech apps for upscaling and education which have provided free access to content for learning to millions of Indians during the COVID period. All our youngsters have created many critical applications that have helped many sectors go digital and face the problems of the pandemic with confidence and emerge successfully as we unlock the economy and expand economic activity."

"Young firms in India have reacted fast and very flexibly to COVID pandemic by sharing our best practices and knowledge, engaging corporates and investors, monetising and mobilising capital, setting up incubators and providing exposure and scale," he said and added that through these, innovative ideas of startups will get larger engagement.

The Union Minister further said that India recognised some very interesting startups in the first-ever national startup award programme.

"We provided an encouraging framework to have more Startups come up with brilliant ideas", he added.

He further said that the Prime Minister, who has been at the forefront of India's engagement with the startups, has said, "Startups are the engines of exponential growth mfesting the power of innovation".

( With inputs from ANI )