India: hotspot of global growth
Steel Minister Dharmendra Pradhan has called for a brave approach to innovation to boost growth in the Indian economy while learning from failures.
“Innovation cannot be achieved without having the courage to fail. We must move away from the culture of “status quo”. Any economy cannot grow by leaps and bounds without the support of innovation driven by its scientific community,” said Pradhan, who is also Petroleum and Natural Gas Minister.
He addressed the CHEMCON 2019, 72nd Annual Session of Indian Institute of Chemical Engineers at Indian Institute of Technology (IIT) in Delhi on 15 Dec 2019.
“We are moving towards a knowledge-based economy. India will be at the centre of global innovation. The shifts in global economic landscape coupled with India’s vibrancy is making India, the hotspot of global growth,” he pointed out.
The Minister further stressed “We have ample intellectual capacity to solve our challenges. IITs are the pride of our country. They are breeding ground for academic excellence and offer immense opportunities.”
He also said that Industrial Revolution 4.0 presents immense opportunity to India. “We must own our failures and become brave innovators.”
The Minister informed that Oil and Gas PSUs have set up a fund of Rs.300 crore to support startups.
“I have even advised PSU companies to support innovation and entrepreneurship by employees,” he added.
Appealing to the scientific community, he said, “We are a nation of aspirations. Our scientific community must contribute towards realising aspirations of our youth.”
He also motivated students at the conference, urging them to move away from traditional notions of success and become entrepreneurs to create a better future for themselves and for our country.
Expressing happiness over meeting with the students, Pradhan said, “There’s so much these youngsters can teach you. Exuberance, energy and the will to succeed against odds, glad to meet some of the brightest minds in the country.” fiinews.com
