India’s position in the Global Innovation Index has improved. The Prime Minister pointed out that India, which was ranked 81st in 2015, has now moved up to 46th position.
He also spoke about startup successes in recent years. In the 14 years from 2013, there were 4,000 patents, but last year it increased to 28,000 patents.
In addition, 2.5 million trademarks have been registered in the 21 years from 2020, up from 70,000 in 2013-14.
The Prime Minister said that there are more than 60,000 startups in the country, 42 of which are worth over Rs 100 crore.
The government is mainly focusing on three areas. The first is to free entrepreneurship from the shackles of government processes. Second, create an institutional mechanism to promote innovation. Third, raising the hand of young entrepreneurs, he said.
Startups not only bring innovation, but also create a lot of jobs. He said that solutions to the challenges facing the country today should be found based on innovative ideas and technology.