GS Paper - 3 (Economy)

16 January would now be celebrated as National Startup Day, Prime Minister announced on 15 January 2022. The move was announced to help the startup culture spread better across India. PM was interacting with various startups virtually as part of the Startup India Innovation Week when he made the announcement.

What PM said

  1. The innovators and entrepreneurs not to keep their dreams local, adding that hundreds of hackathons organised by the government in record time had provided many solutions for the country.
  2. You would also be feeling that different government departments and ministries are in touch with the youth and start-ups, encouraging their new ideas such as new drone rules or the new space policy.
  3. The government’s priority is to give as many youth as possible the opportunity for innovation.
  4. PM said that as against 4,000 patents registered in 2013-14, last year (2020-21), the comparative figure was 28,000. As against 70,000 trademarks registered in 2013-14, over 2.5 lakh were registered last year.
  5. The drive towards innovation has improved India’s ranking on the Global Innovation Index from 81 to 46.
  6. The government has set up various schemes and institutional mechanisms such as ‘Start-Up India, Stand-India’ type of programmes and ‘Make in India’ which ensure the hand-holding of young innovators.