New Delhi, Jan 16 (KNN) Piyush Goyal, Union Minister of Commerce & Industry, underscored the pivotal role start-ups play in India's journey toward becoming a developed nation by 2047.

Speaking at the Start-up Awards & State Ranking Awards function in New Delhi, Goyal praised the significant progress witnessed in the start-up sector over the past eight years, emphasising its transformation from a novelty to an integral part of the national mainstream.

The union minister highlighted the diverse contributions of start-ups in various sectors, including MedTech, FinTech, AgroTech, aviation, drones, and simulators.

Identifying tourism as an untapped sector, he urged start-ups to explore innovative ideas around sustainable tourism.

Expressing confidence in the entrepreneurial spirit of both young and experienced individuals, the union minister encouraged them to contribute unique perspectives and ideas to the start-up ecosystem, emphasising that age should not be a barrier to innovation.

India, he noted, has emerged as the third-largest start-up ecosystem globally, achieving dreams and introducing innovative business practices.

Goyal appreciated achievements in sectors such as millets and food processing, urging start-ups to focus on emerging areas like artificial intelligence (AI). He encouraged them to innovate, simplify life, and revolutionise existing ways of working.

Outlined initiatives to support start-ups included categorising them into sectors for more focused interactions, data sanitisation for location tracking and development stage monitoring, and ensuring all start-ups are registered on the DPIIT portal.

The minister called for collaboration and mentoring through the MAARG portal, emphasising outreach and simplifying the on-boarding process with the Government e-Marketplace (GeM). He encouraged start-ups to register for patent, copyright, and trademark protections, with reduced fees for start-ups.

Goyal announced the upcoming 'Start-up Maha Kumbh' scheduled for March 2024 and assured continued government support for the start-up ecosystem. He invited entrepreneurs to leverage the vast consumer market and collaborate for a seamless transition from an emerging to a developed start-up system.

(KNN Bureau)