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HomeInsightNews & UpdateLooking at creating a fund for agritech startups, says Piyush Goyal

Looking at creating a fund for agritech startups, says Piyush Goyal

Piyush Goyal
Piyush Goyal

Union Minister of Commerce & Industry, Consumer Affairs, Food & Public Distribution and Textiles Shri Piyush Goyal while addressing the E-Summit 2022 of Institute of Chemical Technology, Mumbai said that the next textile sector Unicorn should come from ICT. Called upon the students of ICT to take leadership in Tex-preneurship, Textile Sector Entrepreneurship.

Quoting John F. Kennedy, Goyal said “one person can make a difference and everyone should try to be one person”, and entrepreneurs are best defined as nation builders and change builders.

Goyal said that ICT has India’s best fiber and textile technology department in the country. He said that ICT has eminent alumni like Mukesh Ambani of Reliance Industries, Indravadan Modi of Cadila Pharmaceuticals, Nilesh Gupta of Lupine Ltd and Ashwin Dani of Asian Paints.

“They have played an important role in making India Aatmanirbhar, especially in the chemicals and pharma sectors. It is unbelievable how one institution can shape an entire sector. In fact, in some sense, ICT stands for chemical industry which are very prestigious Ivy League colleges in the countries of the world of technology or the world of management. And I believe it is the responsibility of each of your students to carry on this legacy” he added.

Goyal said India is going through the Aatmanirbhar Renaissance and Government is working as an enabler and has taken transformational initiatives to promote the Textiles sector, including the PLI, setting up of 7 Mega Textile Parks, launching the National Technical Textiles Mission (NTTM) to position India as global leader in Technical Textiles and 31 projects have been already approved.

“We are looking at significant participation of startups in defence R&D. We are looking at creating a fund for agritech startups,” Goyal said.

Goyal also said India has become a global leader in digital transactions within 5 years of UPI launch. Today we have the 3rdlargest Startup ecosystem, over 65,000 Startups registered in last five years, more than 90 Unicorns and lakhs of jobs created by these Startups.

Piyush Goyal while addressing the ICT students said that it is you who will write the script for the self-reliant renaissance, the government being a companion in your entrepreneurial journey. ‘Vocal for Local’ and ‘Make in India’ will be a step towards self-reliant Aatmanirbhar Bharat.

“We are taking great leaps in innovation, R&D is finally being recognized as a vital element for the country to develop or progress in the new era. No one is satisfied with incremental change, we are all seeing orbital changes in the way our worlds live” Piyush said.

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