Ease of Doing Business for MSMEs: G. Satheesh Reddy, Scientific Advisor to Defence Minister said that the country can become strong economically only through technological development and the country’s young should take it upon themselves to innovate, according to a report by The Hindu.
Reddy was delivering a talk on “Atmanirbhar Bharat: Role of startups & MSME: Technology & Innovation“ at the Bio Technology Hall of KLE Technological University (KLETU) in Hubballi on Saturday.
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“It is time India became a technology exporter instead of a technology follower,” said Reddy while addressing students, academicians and industrialists at KLETU. For this, the central government has several initiatives to involve entrepreneurs, particularly youngsters with innovative ideas in this path of progress, he added.
“Today’s buzz word is innovation and that is why (the) Government of India has thrown open even the defence sector for private participation. In the recent defence expo at Gandhinagar, over 1,200 private Indian companies participated,” Reddy said.
Hailing Prime Minister Narendra Modi
The foundation for research and development (R&D) in India was laid in the 1950s but the sector saw actual momentum only in the 1980s, Reddy said. The Indian Space Research Organisation (ISRO) had conducted the last 55 launches without any glitches owing to the country’s technological advancement, he added.
He further traced the development of R&D in the country and the subsequent changes in the last decade particularly associated with the opening up of various sectors to private players, Make in India
The official also stressed on the funding extended to those who came up with innovative ideas by various central government agencies including Defence Research and Development Organisation (DRDO) and others.
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At present, there are 75,000 startups in the country working across different sectors, he said.
Reddy suggested the students to not go after bigger projects but work on smaller innovations that could take them around the world and make them global players.