Rajeev Chandrasekhar, the Minister of State for IT and Electronics, while speaking at the CII summit, held on Wednesday, 24th May, highlighted the significance of constant innovation in ensuring the longevity and success of ventures.
Rajeev Chandrasekhar said, “There is absolutely no doubt in my mind that so far as opportunities go, from space to AI (Artificial Intelligence) to quantum to semiconductors, there is a huge universe of opportunities in front of our startups and we are creating a legal, legislative and policy framework that is a stark contrast from what it was, many years ago.”
He further added, “We create less and less road-bumps and less and less hurdles and create a framework that makes it more and more of an enabling framework for every young Indian who has a dream, passion, idea, and capability to translate that into a successful enterprise and successful global ventures.”
Commenting on the event, former CEO, Infosys, Krish Gopalkrishnan said, “Founders should think of value creation before thinking about valuation, they need to focus on performance and serving customers, they need to focus on governance and creating long-term enterprises and organization.”
In his address, MoS IT Rajeev Chandrasekhar further emphasized that in today’s time with an evolving business landscape, the ability to adapt, disrupt, and innovate has become paramount. Strategies used in the past may not prove as effective as they used to be, the idea is to have sustainable businesses who are willing to innovate with time.
The minister also spoke about supporting an innovative mindset within organizations, and encouraging entrepreneurs and business leaders so they could cultivate a culture of nurturing creativity, risk-taking, and continuous improvement.
The Indian government is committed to supporting the startup ecosystem, and the government is making sure that they are provided with a proper environment with resources and reach.
Chandrasekhar also emphasized the government’s commitment to supporting and fostering a conducive ecosystem for innovation and entrepreneurship. He outlined various initiatives and policies aimed at promoting research and development, encouraging startups, and providing a nurturing environment for businesses to thrive.
Rajeev Chandrasekhar recognized the concerns in regard to innovation and the power it holds if utilized in the right direction.
The Indian government will further create policies and prepare a legal framework that will behave as an enabler to support upcoming entrepreneurs by helping them bring their ideas to life.
