Union Minister Dharmendra Pradhan asked engineering students on Sunday to move away from the "traditional notions of success" and focus on entrepreneurship, saying no country can grow without the support of innovation.
Promoting entrepreneurship is a key objective of the BJP government at the Centre, he said during an interaction with students during the 72nd Annual Session of Indian Institute of Chemical Engineers at IIT-Delhi.
Pradhan, who holds the portfolios of Steel Ministry and Petroleum and Natural Gas, said India has ample intellectual capacity to solve challenges and IITs are the pride of the country.
He said the premier institutes are "breeding grounds" for academic excellence.
According to an official statement, the minister motivated the students to move away from traditional notions of success and become entrepreneurs to create a better future for themselves and the country.
"No economy can grow by leaps and bounds without the support of innovation driven by its scientific community," Pradhan said, calling for a greater synergy between academia, industry and policy-makers to drive innovation.
"Oil and Gas PSUs have set up a fund of Rs 300 crore to support start-ups. I have even advised PSU companies to support innovation and entrepreneurship by employees... India is moving towards a knowledge-based economy and soon it will be at the centre of global innovation," he said.
India is a "nation of aspirations and our scientific community must contribute towards realising aspirations of our youth," he added.