Mumbai, Aug. 11: Indian Prime Minister Narendra Modi on Saturday said innovation and enterprise would be the foundation stones for a developed India, and asserted that societies that do not innovate stagnate.
At the 56th annual convocation of the IIT-Bombay, he said the Indian Institutes of Technology (IITs) have built brand India globally and now become “India’s instrument for transformation”, he said.
“The nation is proud of IITs and what IIT graduates have achieved. The success of IITs led to the creation of engineering colleges around the country and this led to India becoming one of the world’s largest pools of technical manpower,” Modi said, adding: “IITs are the frontier of new technologies such as artificial intelligence, block chain, machine learning, etc which would shape the world’s future.”
Modi said IITs were a microcosm of India’s diversity with students from various parts of the country and different backgrounds coming together in the pursuit of knowledge. “It’s the large number of IIT students who built the IT sector in India brick by brick, or should I say, click by click,” he said.
India, the PM noted, was rising in the rank of innovating nations in the world. “India has become a hub for start-ups,” Modi said in his 35-minute speech. “In the coming two decades, innovation and new technology will decide the trajectory of growth in the world and the role of IITs in this will be very important,” he said.
“The world today sees IITs as the nursery of unicorn start-ups (those valued at over $1 billion),” Modi said, adding: “This is just the beginning as in the future their value can be over $1 trillion.” The PM cited the example of Khudiram Bose, the freedom fighter who died when he was just 18. “We did not have the good fortune to die for our country. But we can work for creating a new India,” Modi said.
The Prime Minister also announced that IIT-B would be given a financial aid of Rs1,000 crore. Seven lakh engineering students pass out every year, he said, adding a collective effort was required to ensure they get high quality education and acquire necessary skills.
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(The Tribune With agency inputs)
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