Mumbai (Maharashtra) [India], September 20 : Noting that technology is moving at a pace never seen before, Dr PK Mishra, Principal Secretary to the Prime Minister, said on Saturday that India has become a global innovation powerhouse with over 100 unicorns and almost two lakh start-ups, and the country is the third-largest start-up ecosystem in the world.
Addressing the annual convocation of the Indian Institute of Management Mumbai, PK Mishra referred to trade wars between large economies, geopolitical tensions, protectionist policies and reciprocal tariffs and said India is moving ahead with courage and confidence in the midst of all these complexities and challenges.
"Today, technology is moving at a pace never seen before. Smartphone revolution, big data analytics, augmented reality, 3D printing, robotics, blockchain technology and of course artificial intelligence are fundamentally transforming our world and the way we engage in it. From the way we interact and connect with each other to the way we move from one place to another... India has become a global innovation powerhouse with over 100 unicorns and almost 2 lakh start-ups. India is the third-largest start-up ecosystem in the world," he said.
PK Mishra referred to the steps taken by the government to boost innovation.
"Today, we have a thriving start-up ecosystem, yet innovation gaps remain. The government has recognised the gap and rolled out various initiatives. For example, the Rs 1 lakh crore Anusandhan National Research Fund supports basic research and prototypes. The India AI Mission seeks to build leadership in artificial intelligence. A dedicated deep tech fund of funds will pool capital for risky but transformative start-ups. These are some of the important first steps in this direction," he said.
Referring to Prime Minister Narendra Modi's vision of 'Viksit Bharat', he said PM Modi wants people to take the country to the next level through the process of reform, perform and transform
"Trade wars between large economies, geopolitical tension in Ukraine and the Middle East, challenges of climate change, impact of transformational technologies such as artificial intelligence, disruptions in global supply chains, protectionist policies and heightened geopolitical tension, and of course, the changing global trade patterns, the most recent of course, the reciprocal tariffs and other things. In the midst of all these complexities and challenges, India is moving ahead with courage and confidence," he said.
"We are in Amrit Kal. Our Prime Minister has envisaged a grand vision for India in 2047. Far-reaching changes will be taking place in India and the world in the coming decades. Prime Minister wants all of us to take the country to the next level through the process of reform, perform and transform. In this endeavour, all of you will be playing a very critical role in ensuring that India becomes a developed country by 2047. As it was pointed out, it is your responsibility, not merely your capability, which will count," he added.
Mirshra said apart from technical skills, one's attitude and approach become important for coordinated and collective efforts.
"Two aspects will determine, will shape your achievements in the future. One, an individual's approach and attitude, and two, human resources and capabilities... Technical skill is very necessary but it is not sufficient. One's attitude and approach become important for coordinated and collective efforts. Interactions with stakeholders, colleagues, people, and political functionaries are critical to our working together to achieve a national goal," he said.
Mishra said teamwork is much more important than individual brilliance.
"Many people who are extremely sharp, brilliant, and knowledgeable are not able to achieve because of lack of cohesion in the team. And ultimately, much of our research, our development depends on teamwork... Second, it relates to human resources and capabilities. You are now entering a world that is ever-changing and more uncertain," he added.