NEW DELHI: Prime Minister Narendra Modi on Wednesday said the coronavirus pandemic has put to test conventional methods and that innovation is the only way out, while inviting the world to invest in India. “I believe where convention fails, innovation can help. This has been seen during the Covid-19 global pandemic, which is the biggest disruption of our age.
All nations have suffered losses and felt anxiety about the future,” he said in his virtual keynote address at the fifth VivaTech Summit and added investments would be based on the five pillars of market, capital, eco-system, talent and culture of openness.
Modi said India is home to one of the world’s largest start-up ecosystems. “Several unicorns have come up in recent years. India offers what innovators and investors need.” VivaTech Summit is one of the largest digital and start-up events in Europe, held annually in Paris since 2016. It is organised by Publicis Groupe, an advertising and marketing conglomerate, and Les Echos, a media group. It brings together stakeholders in technology innovation and start-up ecosystem. It features exhibitions, panel discussions and contests.
The Prime Minister observed that over the past one year, the country has experienced disruptions in various sectors. “Much of it is still there. Yet, disruption does not have to mean despair. We must keep the focus on the twin foundations of repair and prepare.”
Saying that India has implemented reforms across various sectors, Modi said the nation has been adaptable and agile 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 added. India and France have been working closely on a wide range of subjects. Among these, technology and digital are emerging areas of cooperation.