Union Minister of State for Entrepreneurship, Skill Development, Electronics & Technology Rajeev Chandrasekhar on Monday said the government wants India to lead the global tech
movement.
The Minister was speaking at the India Global Forum's annual summit on the topic 'The New India Inc' here.
"...we would like India to be less of just being a fuel for global tech companies, but to also lead the global tech movement," Chandrasekhar said in response to a question on impact of global tech companies investing and creating a strong base here.
Noting that companies like Volvo, Uber, Intel and many others are creating an ecosystem where the talent is out there and there is critical mass, he said, "Into that mix when you toss in the desire for entrepreneurship, along with the capital and encouragement by the government to support innovation, we will see in the next coming years a large number of India origin innovation."
"It is the government's ambition and vision that we want more and more India origin intellectual property to come out from here. I'm very confident that it is going to be the next wave we will see," he added.
Noting that as we celebrate the new phenomenon of entrepreneurship, startup ecosystem of size and magnitude, it is important to understand the journey that brought us here, the Minister said, it is really the last five years of tremendous tectonic changes in the overall economic ecosystem, that is causing young entrepreneurs to feel that they can take their dreams and opportunities and make them real.
Pointing out that there was concentration of capital, opportunities available to a very few percentage of Indians a decade ago, he said, but, now over the last seven years, there is a completely restructured and changed financial system where a young entrepreneur is able to take his dream, raise the capital, and build a business, not worried about big companies muscling him out.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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