PM Modi remarks India reached to 40th rank in global innovation index

At the Bengaluru tech summit, Prime Minister Narendra Modi in a pre-recorded message said that in the global innovation index this year India reached to 40th rank.

“India jumped to 40th rank in the global innovation index this year. In 2015, we were ranked 81. The number of unicorn start-ups in India has doubled, we are now the 3rd largest in the world. This is due to India’s talent pool,” PM Modi said.

The 25th edition of Asia’s largest technology event was virtually inaugurated by PM Modi.

During his speech, PM Modi appealed to global and domestic investors to explore opportunities in the technology and innovations of India.

“Your investments and our innovation can do wonders. Your trust and our tech talent can make things happen. I invite you all to work with us as we lead the world in solving its problems,” PM Modi said.

While addressing the event he said that technology used to be seen as an exclusive domain, reserved only for the high and mighty; but India has shown how to democratise technology.

PM Modi further added that India has also shown how to give technology a human touch.

“In India, technology is a force of equality and empowerment. The world’s largest health insurance scheme Ayushman Bharat provides a safety net for nearly 200 million families. It means, about 600 million people. This programme is run based on a tech platform. India ran the world’s largest Covid-19 vaccine drive,” he said.

He said that over the years India has brought reforms in various industries.

“Whether it is FDI reforms, or liberalisation of drone rules, steps in the semi-conductor sector, the production incentive schemes in various sectors, or the rise of ease of doing business, India has many excellent factors coming together”, PM Modi said.

India is using technology as a weapon in the war against poverty said the Prime Minister, taking the example of the Svamitva scheme.

“We are using drones to map lands in rural areas. Then, property cards are given to the people. This reduces land disputes. It also helps the poor access financial services and credit. During Covid-19, many countries were struggling with a problem. They knew people needed help. They knew benefit transfers would help. But they did not have the infrastructure to take the benefits to people. But India showed how technology could be a force for the good. Our Jan Dhan Aadhar Mobile Trinity gave us the power to directly transfer benefits,” he said.

“India is no more a place known for red tape. It is known for the red carpet for investors. Whether it is FDI reforms, liberalisation of drone rules, steps in the semiconductor sector, the production incentive schemes in various sectors, or the rise of ease of doing business,” he added.

Nine Memorandum of Understanding (MoU) will be signed at the Bengaluru tech summit this year, and 20 new products will be introduced.

The three-day expo will include more than 575 exhibitors and startups from 16 Indian states.