Startup Mahakumbh: Modi Asks Start-Ups To Work On Indian Solutions For Global Challenges

PM Modi say, "We are witnessing the dawn of a new era in AI technology, and the world recognises India's potential to lead in this domain"

Prime Minister Narendra Modi during the 'Startup Mahakumbh' at Bharat Mandapam, in New Delhi on Wednesday.

Source : PTI

Prime Minister Narendra Modi, who was delivering a speech at the Startup Mahakumbh event on Wednesday, declared India's imminent leadership in artificial intelligence (AI) capabilities. He fervently urged young entrepreneurs and start-ups to pioneer 'Indian solutions for global applications,' emphasising the pivotal role these innovations would play in addressing global challenges.

Highlighting the government's initiatives, Modi underscored the significance of the three pivotal missions on AI, semiconductors, and quantum technologies. He outlined that these missions would not only foster job creation for the youth but also present lucrative investment opportunities for global investors.

"We are witnessing the dawn of a new era in AI technology, and the world recognises India's potential to lead in this domain. It is imperative that we seize this opportunity and ensure our continued dominance," asserted Modi.

Asserting that AI offers boundless opportunities for young innovators and global investors alike, Modi reiterated his confidence in India's leadership in AI capabilities. He reiterated the mantra of 'Indian solutions for global applications,' expressing his conviction that solutions devised by Indian innovators would address challenges faced by numerous nations worldwide.

Recalling his address to the US Senate last year, where he emphasized India's commitment to AI leadership, Modi reiterated his government's determination to release a comprehensive budget post the upcoming general elections.

Modi also shed light on the government's initiatives, including the National Quantum Mission, India AI Mission, and Semiconductor Mission, aimed at fostering innovation and research in cutting-edge technologies.

Furthermore, Modi announced the establishment of the National Research Foundation with substantial investments, along with plans to enhance mechanisms for start-up funding. He highlighted the government's commitment to fostering research and innovation through substantial budget allocations.

"We've witnessed a phenomenal rise in start-ups in recent years, from fewer than 100 in 2014 to approximately 1.25 lakh now. This burgeoning ecosystem has created over 12 lakh jobs and produced over 110 unicorns," remarked Modi, underscoring the remarkable growth of India's start-up landscape.

Highlighting the importance of AI in governance, Modi revealed his campaign's utilisation of AI technology for multilingual communication.

In a bid to bolster the start-up ecosystem further, Modi urged start-ups to expedite patent filings to safeguard their innovations. He lauded the contribution of start-ups to the Government e-Marketplace, highlighting their substantial business transactions.

Additionally, Modi commended the transformative role of financial start-ups facilitated by technologies like Unified Payments Interface (UPI), further bridging the rural-urban divide.

Modi celebrated the inclusive nature of India's technological progress, emphasising the nation's commitment to democratising technology for the benefit of all. He hailed the substantial involvement of women in leading start-ups and stressed the importance of nurturing an innovation culture for a prosperous future.

In a closing appeal, Modi urged unicorns to support budding ideas and engage with educational institutions and Atal Tinkering Labs as mentors, fostering a collaborative environment for innovation and growth.