BENGALURU: Union Finance Minister Nirmala Sitharaman on Saturday suggested that startups should emphasise on innovations to handle climate change as it will have a bearing on even the country’s security.
Speaking at Vananam Startup Inclusion Summit held at a private hotel, Sitharaman pointed out that India, which is playing its role in the Paris Agreement on Climate Change, should find solutions to address the vagaries of climate change.
“Other than fintech, software is another critical area. The startup investors, those who organise resources should think about it,” she advised. The climate-related solutions are required not just for defence strategies but also for transition to less challenging climatic conditions as it will cost the Indian economy heavily because of the damages which are likely to happen.
The farmers are trying to change their cropping patterns due to the unpredictability of climate change, she remarked.
Meanwhile, Sitharaman also suggested that startups should tap the potential in Maintenance Repair and Operations (MRO) of aircrafts as India’s air traffic has acquired 16 per cent. “Next year is crucial as the country is chairing the G20 summit and the government and the startups should work together,” she said.
BENGALURU HOST TO G20 FINMIN MEETING
Nirmala Sitharaman informed that Bengaluru will host the G20 Finance Ministers and Central Bank Governors’ meeting in February 2023, and suggested that startups should make the most of it. Each state will be hosting some events which will provide a platform to showcase their uniqueness