– Nirmala Sitharaman, Finance Minister of India at Startup Dhuruv event
We are in the Web 3 era and these techs like AI, Big Data can give a great push to all sectors.
Coimbatore should lead the country and show how Web 3 technologies can help every sector increase its efficiency, in various stages starting from Manufacturing to Export stages, expressed Indian Finance Minister Nirmala Sitharaman.
She was the Chief Guest of the Dhuruv Awards, an award ceremony by The Startups Academy, a non-profit organization, headed by reputed auditor G.Karthikeyan, and honored several Startups of Tamil Nadu identified by it, on Monday.
The Startups Academy is promoted by experienced professionals and entrepreneurs, and it aims to enable and empower new startups with its members’ collective knowledge and experience, and mentor those initiating their start-up ventures.
After shortlisting several competing startups (as per category) the best were identified by The Academy and honored.
Chairman and Managing Director of LMW Sanjay Jayavarthanavelu took part as the Guest of Honor. Vanathi Srinivasan, MLA-Coimbatore South Constituency, various leading Industry Associations like Indian Chamber of Commerce and Industry, Coimbatore, CII-Coimbatore Chapter, CODISSIA, EO and other NGOs took part in the event.
IamNeo won the Best Startup under Rising star category, HealthBasix won the Best Startup under the She Star Category and Juicy Chemistry won the Best Startup Award under Super Star Category.
Speaking at the event the Finance Minister said she firmly believes that Coimbatore has the potential to show how great solutions could be found using web3 techs and lead in that domain. When you do that, you can elevate startup world to new level,she said.
Speaking about the contributions of Modi-led BJP Government to the industry. She said Congress had made some revisions in the policies in 1991 to usher growth in Industry and it did good to the sector.
However during the Congress regime, everything related to Industry was designed and decided centrally.
Even when core industries had the potential to manufacture more, their aspirations were clipped due to the policies.
Following the takeover of Narendra Modi, Indian Government has opened up opportunities to the industries; today except for a few sectors, the private can take part in defence sector, atomic energy and any sector that can give space for growth of the country and the industry.
She said the Government saw many youth come up with Innovation in the country, and hence in 2015 opportunity was also given to Startups with bright ideas to work with core sector projects.
“I am asking a question to Coimbatore, this is a town where GD Naidu lived and disruption was his philosophy. How he made things work amazed people,”
“Today we have come to web3 world. We use AI, Big Data etc. These tech give efficiency and if we deep dive, it can give progress to all sectors.”
“As we are in web3 era, we expect core industries to go from using some random patented innovative thoughts to using web3. Coimbatore should look at its advantages, see what aspects can be scaled up with that technology. Many have leapfrogged using this in the world. We should look at how we can use this in every sector, and how efficiency could be achieved in all stages.”
“I want Coimbatore startups to show the way forward with Web3 technology. When you do that all Cities leading in the startup zone (Hyderabad,Bengaluru, Gurgaon) can grow and you can take Start Up to a whole new level”, she expressed.
“It can be used for not only cryptos, agri, analysis and standardizing products but in every sector. If Coimbatore tries to be a pioneer in Web3 tech, it can achieve a unique place and you can lead the country. I believe you can”
Earlier G.Karthikeyan while welcoming the gathering said India ranks now as the 5th largest economy today and by 2031 it has the potential to become the 3rd largest and by all counts, India, in the coming years, will turn a super power by the efforts taken by the Central Government
Speaking at the event Vanathi Srinivasan said that while many countries faced great difficulties post the pandemic, the able leadership of Finance Minister has supported the country to stay stable.
She called Nirmala Sitharaman the right arm of PM Modi who aims to turns this country a superpower. She added when Nirmala was the Defence Minister she gave the defence corridor project first to Coimbatore (which was not a stronghold of the BJP) then to UP (considered a fortress of BJP).
She added that the PM wants MNCs to rise from our country and make a mark in the world, and efforts of the Government and the support of organisations like The Startups Academy.
Sanjay Jayavarthanavelu, in his address said ideas need to meet with talent and resources to create change and growth.
He spoke highly of Indian startups and added that next to USA and China we have the highest number of unicorns.
He was appreciative of the Start Up India scheme by the Indian Government and said it has given a significant impetus to the Start Up culture.
Talking to the Finance Minister, he said India has received a lot of respect globally due to its focus in Green Energy and Digitization.
He called Tamil Nadu the manufacturing engine of India, and said that the defence corridor project coming to Coimbatore has given great opportunities to many manufacturers, and given rise to startups focusing on that sector.
He shared that Coimbatore is a town of Entrepreneurs and Technocrats, and the startups here had potential to turn into scaled up companies and serve the nation.