COVID Put Conventional Methods to Test, Innovations Rescued: Modi

PM Modi highlighted India’s potential in the digital and start-up sectors and invited investments in the country.

COVID put conventional methods to test, innovation came to rescue: PM Modi

(Photo: IANS)

Inviting investors to the country, Prime Minister Narendra Modi on Wednesday, 16 June, said that innovations came to the rescue amid the pandemic as he highlighted India's major benefits for both investors and innovators.

Delivering his keynote address at the fifth edition of VivaTech, one of the largest digital and start-up events in Europe, he said: “COVID-19 put many of our conventional methods to test. However, innovations came to the rescue. By that, I refer to innovations before and during the pandemic.”

“When I speak about innovation before the pandemic, I mean the existing advances, which helped us during the pandemic. Digital technology helped us cope, connect, comfort and console. Through digital media, we could work, talk with our loved ones and help others,” he said.

Modi stated that the second part, innovation for the pandemic referred to how humanity rose to the occasion and made the fight against it more effective. In this, the role of the country’s start-up sector has been paramount.

“India's strides in the world of technology and start-up are well-known. Our nation is home to one of the world's largest start-up eco systems. Several unicorns have come up in recent years,” he said.

The Prime Minister said: “India offers what innovators and investors need. I invite the world to invest in India based on the five pillars of talent, market, capital, eco-system and culture of openness.”

Citing reforms in different sectors, he said: “We, in India, implemented huge reforms across sectors – such as mining, space, banking, atomic energy and others. This goes on to show that India is adaptable and agile, even in the middle of the pandemic.”

Stressing India's extensive relation with France, he said: “India and France have been working closely on a wide range of subjects. Among these, technology and digital sectors are emerging areas of cooperation.”