PremiumShe urged the start-ups and investors to look beyond fintechs, software as a service start-ups, and also give importance to areas such as climate change solutions, improving the conditions of farmers
Union Finance Minister Nirmala Sitharaman suggested startups to focus on climate change and farming solutions. Speaking at Vananam Startup Inclusion Summit , Sitharaman pointed out that India, which is playing its role in the Paris Agreement on Climate Change, should find solutions to address the vagaries of climate change
Addressing the national-level summit organised by Vananam to promote inclusion in the start-up ecosystem in India, she said, "Atmanirbhar Bharat is not just for defence or strategic matters, food security or manufacturing areas. It is also self-sufficiency to be able to transition to a better climate in India."
She urged the start-ups and investors to look beyond fintechs, software as a service start-ups, and also give importance to areas such as climate change solutions, improving the conditions of farmers .
"You have already touched upon defence production, renewable energy, nuclear space, satellites, space technologies, etc. I'm asking you to explore some of those less glamorous areas as well," she added.
Emphasising on climate change solutions, Sitharaman said, "More and more innovations for dealing with climate and climate change are going to be absolutely precious. Climate issues have a direct bearing on farming as well as on the supply chain in the country."
"The challenges that emerge out of unpredictable climatic conditions have a bearing on agriculture, urban living, water management, disaster management, construction of houses, industries, and national security," she added.
The finance minister cautioned that if the issues related to climate change are not addressed, then it will cost a lot to the Indian economy, which will not be affordable to all.
"The across-the-board damages that adverse climate and weather conditions can create is going to be big for any country to subsume, absorb or take on board," she said.
"The rainfall that used to happen in the entire monsoon season is now being witnessed within a couple of days, which no city or rural area can handle. All these are making farmers rethink about how they're going to be ploughing, sowing, readying the land and also looking at when the crop is going to be coming for harvest," FM Nirmala Sitharaman added.
She added that people can see farmers trying to change their cropping patterns. The sowing of seeds is being pushed further due to the unpredictable monsoon months.