We must aspire to be among top 25 in global innovation index: Piyush Goyal

Union Minister Piyush Goyal on Monday called upon stakeholders in the innovation ecosystem to strive to take India to the top 25 in the Global Innovation Index.  "Our startups are the key reasons behind India's meteoric rise in Global Innovation Index from 76 in 2014 to 46 in 2021," Goyal said.

Goyal was virtually speaking at the inauguration ceremony of the Startup India Innovation Week.

The Union Minister stated that celebrations like the Startup India Innovation Week will definitely bring the spotlight on India's innovators. He said that 'Startup India' must become a symbol of self-reliance and self-confidence.

He conveyed that the event has been organised with "whole of Government" approach and in collaboration with 30 departments.  He also announced that the participant registration for the 'Innovation Week' had already crossed 1 lakh.

Goyal added that the country's start-ups have turned COVID-19 crises into an opportunity and made 2021 the Year of unicorns; with third largest number of unicorns -- 82 -- in the world.

He called upon entrepreneurs to think of building start-ups that focus on "healthifying" people at a time when the world is facing successive waves of pandemic.

Goyal observed that young entrepreneurs are eager to make an extreme impact and are fearless risk-takers. He noted that today, almost four start-ups are recognised in India every hour with 45 per cent belonging to Tier II and III cities and said that 46 per cent of start-ups are found by women entrepreneurs.

The Commerce Minister highlighted that the successful IPOs of many start-ups showcase their power to become the new Multi-National Corporations. He said that from 2018-21, more than 6 lakh jobs have been created by start-ups and added that in 2021 alone, more than 2 lakh jobs have been created.

Referring to the proposed Open Network Digital Commerce (ONDC) initiative as a game-changer that will help India's entrepreneurs to save costs as well as build trust, Goyal said that ONDC would help bridge the gap between mighty Corporations and small start-ups and help bring in equity in the business ecosystem.

He said that the mantra for start-ups for further growth is SENSE- Share, Explore, Nurture, Serve and Empower.

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