India will be a world leader in AI: PM Modi

Prime Minister Modi applauded the enthusiasm of Indian youth at the conclusion of the three-day long Startup Mahakumbh

March 20, 2024

The PM spoke about the government’s support and initiatives that are designed to foster innovation and startups in the country

The PM also spoke about the large contribution that women have made to growing India’s startups

He highlighted the pace at which AI has grown in India and mentioned a few examples of how he himself has used this technology

The Prime Minister highlighted that over 45% of Indian startups are led by women

At the conclusion of the three-day-long Startup Mahakumbh organised by the Government of India’s Department for Promotion of Industry and Internal Trade (DPIIT), the Honourable Prime Minister spoke highly about the entrepreneurial temper of Indian youth and the rampant growth of the country’s startup ecosystem.

The PM stated that the government has created robust initiatives that have given a platform for innovation and connected entrepreneurs with funding channels to put these ideas into action. Incubators have been set up in educational institutions to foster startups from the grassroots levels.

The PM went on to mention that akin to the leapfrogging of India’s IT and software sectors in the past, innovation and startup culture is now witnessing prolific growth in the country. He highlighted the pace at which AI has grown in India and mentioned a few examples of how he has used this technology to reach out to fellow Indians who speak a wide variety of languages.

In his speech at the occasion, the PM showcased how intrinsically linked startups are with India’s younger population. Over 1.25 lakh registered startups in the country have been linked to over twelve lakh Indian youth. These startups are creating significant employment opportunities, and the youth are now becoming job creators rather than the mere job seekers of the past.

Speaking about the immense role that women have played in the foundation of India’s startups, the PM mentioned that they helm more than 45% of Indian startups. This proves that women have played a pivotal role in innovation and the startup culture in the country and that the nation has truly democratised technology, which has made it accessible to the masses.

The PM also stated that the INR one lakh crore fund announced in the interim budget will be earmarked for innovation and development in the sunrise sectors.

Source: Economic Times

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