Goyal acknowledges challenges and failures faced by many startups
India’s commitment to embracing disruptive technologies, particularly AI, and encouraged the adoption of AI to solve real-world problems and improve lives, says Commerce and Industry Minister Piyush Goyal.
He recognized India’s role as a global leader in AI and noted the nation’s growing recognition in the international startup ecosystem, while underlining that India’s strengths lie in its large, youthful population, vast data resources, and an entrepreneurial culture.
Addressed the ‘Inaugural Edition of Slush’D’, held 4 Nov New Delhi, the Minister encouraged Indian startups to be ambitious, welcome innovation, and address the challenges that lie ahead.
While India has some catching up to do, the country’s enthusiasm for AI is undeterred, stressed Goyal, adding that India’s future lies in its commitment to innovation and reskilling to leverage AI for economic growth.
He pointed out that India has registered over 115,000 startups compared to approximately 450 startups seven years ago.
The Minister acknowledged the challenges and failures faced by many startups but commended their resilience and determination to continue trying.
He underlined the transformational power of India’s youth and their ability to find solutions to the country’s many problems.
Goyal emphasized that the modern Indian startup is no longer constrained by traditional entrepreneurial paths. “Today’s startups are characterized by their pursuit of innovation, leveraging data, and thinking beyond existing norms.” Fiinews.com
