Niti Aayog CEO Amitabh Kant said digitisation has provided an impetus to the startup ecosystem in India and IPOs will drive the country's startup revolution. Kant noted that among 17 economies, India has emerged as the second-fastest in digitisation. He said ‘IPOs will drive our start-up revolution. Indian start-ups will raise money in Indian markets from the Indian public’. He added ‘This is truly Aatmanirbhar Bharat. Digitization has provided an impetus to the start-up ecosystem in India’.
He noted in a large and diverse country like India, the ability to rapidly execute and scale up programmes to reach 1.3 billion citizens, in vernacular languages, is important. He said ‘Startups should leverage technology for social good. The pandemic has provided an opportunity for this’. According to Kant, the intersection of e-commerce and the internet has created opportunities for business. He said the development of world-class technology products needs inputs from AI, and added ‘our curriculum needs to be redesigned to produce world-class AI scientists and designers’.
Kant also noted that failure is an integral part of the startup movement and every parent and every investor in India need to understand this. He was quick to add that nowhere in the world would startups get the size and scale of data as they do in India. He observed ‘Data sets provide the opportunity to use AI and ML across a range of areas like health, agriculture and education’.