Startups will help India transition from assembly economy to knowledge-based economy: Piyush Goyal
- IBEF
- January 13, 2022
On Wednesday, Commerce and Industry Minister Piyush Goyal claimed that India's startups will assist the country move from an assembly economy to a knowledge-based economy.
He stated that Indian startups are both change agents and foundations in the process of building India aatmanirbhar (self-reliant).
"Startups will help India transition from an assembly economy, particularly in the digital world, to a knowledge-based economy. In this digital age, technology has removed boundaries and barriers," Goyal said at the India Digital Summit.
He went on to say that the startups in this area are expanding beyond geographical boundaries, and that there are several opportunities for them all around the world.
"We are currently focusing on ease of living, ease of service and ease of skilling, re-skilling and up-skilling," he said, adding the government has taken a series of steps such as relaxation in public procurement norms, introduction of fund of funds and seed fund scheme to support the budding entrepreneurs.
All these steps, he hoped, have brought simplification, facilitation and empowerment to entrepreneurs.
"However, there is always room for more," he noted.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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