Every Crisis Can Become opportunity, Govt doors open 24×7 for Startups: Piyush Goyal

Every Crisis Can Become opportunity, Govt doors open 24x7 for Startups: Piyush Goyal
Every Crisis Can Become opportunity, Govt doors open 24x7 for Startups: Piyush Goyal

BENGALURU: The present Ukraine-Russia crisis is a wake-up call for all of us, not to be dependent on crude oil and defence equipments, Piyush Goyal, Union Minister asked Startups to help India become self-reliant in energy needs.

Some of the Startups are looking for innovative ways for indigenization of defence equipments. He also said that the present situation fits in so beautifully in the Make in India programme launched 8 years ago, – the Atmanirbhar Bharat initiative, and the outcome of Covid-19, everything collectively is helping India’s growth trajectory.

Every crisis can be converted into an opportunity like that of Covid-19. Covid-19 is a big crisis and the ‘biggest of the century’ crisis was converted into an opportunity, wherein many of our boys and girls came up with innovative solutions to the problems, Goyal said.

He said one can find many opportunities, like even in the current war crisis.

The government is considering a variety of measures for regulating the ecommerce sector, including whole new legislation or “benign guidelines.”

He stated that the country requires bold ideas and breakthroughs to ignite disruption, while assuring them of full government support in exploring the “tonnes of opportunity” that are headed their way.

The Minister assured the Startups that the government was listening to their needs and that its doors are open 24×7.

Goyal has encouraged startup unicorns to launch a local fund to help young companies and offer seed cash for their ventures.

While referring to the traffic problem in Bengaluru, Goyal asked Startups to find solutions to ease the traffic.

According to the survey, Bengaluru, India’s silicon valley, has the most unicorns. The areas with the most unicorns include fintech, e-commerce, and SaaS (software as a service), followed by health-tech, ed-tech, direct-to-consumer, gaming, and cryptocurrency.

Goyal was speaking at Economic Times Startup Awards, in which awards were presented in nine categories – Startup of the year, Midas Touch, Women Ahead, Comeback Kid, Best on Campus, Social Enterprise, Top Innovator, Boots Trap Champ and Covid-led Business Transformation.

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