India’s growth story: new technologies to shape the future; Piyush Goyal Highlights Boost to Startup -Ecosystem – Times of India

Union Piyush Goyal Minister on Saturday said that India’s growth form would be determined in the coming years by new technologies, innovation and a flourishing startup ecosystem. During the Sangam 2025 event of an Iit Madras Alumni Association in Chennai, Goyal said: “Your science, your technology, combined with this lively startup ecosystem, R&D and innovation, will shape the India growth story of the future.“ He emphasized the shift in the role of India in the global economy, of a nation that is known for the search for jobs for a nation that she now creates. “Of course we have tried in some small measures to be part of the startup ecosystem, the Startup Funds and various other initiatives to support the Startup Ecosystem, in combination with the work organizations such as Iit Madras,” PTI quoted the minister. The minister said that India is preparing for the future with policy that supports the use of advanced technology, especially in areas such as artificial intelligence, machine learning, quantum computing and data analysis. “We do not shy away from new technologies. We believe that these technologies will help us if we climb the growth pattern. Absorbing these technologies in our activities-in production, companies and the service sector is of good starting us and helps us to become the fastest growing big economy in the world,” Goyal said. He also noticed that India continues to grow internationally and is involved, even when global trade slows down. Later in the day, Goyal also held a discussion with market leaders, startups and DeepTech Innovators, accompanied by Karnataka’s Minister of Trade, Industry and Infrastructure, MB Patil. He spoke about the need to simplify rules and to speed up processes on patents and trademarks to better support companies. He also sketched large government initiatives that were aimed at encouraging innovation, including the RS 10,000 Crore fund of funds for startups to support early and growth phase Deeptech Ventures, and the RS 1 Lakh Crore R&D and Innovation (RDI) scheme, which offers SPV, cheap capital). Cheap capital). Goyal praised the power of the Indian economy by bouncing back after COVID-19, driven by innovation, entrepreneurship and strong policy support. He also pointed to the rising global demand for ‘Made in India’ products and said that better quality, design and competitiveness in various sectors such as electronics, production, pharmaceutical products and textiles display the growing power of India. The Minister concluded by attaching the dedication of the center to inclusive, innovation-guided growth and building a worldwide competing industry in accordance with the vision of Viksit Bharat @2047.