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Last Updated : Jul 17, 2019 03:02 PM IST | Source: Moneycontrol.com

Robust entrepreneurship environment needed to make India $10 trn economy by 2030: Amitabh Kant

He further said that India needs to be open to globalisation, and embrace the growing urbanisation.

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Emphasising on the importance of startups and entrepreneurship in the country, NITI Aayog CEO Amitabh Kant on July 17 said that India needs to grow at the rate of 9-10 percent to lift the majority of the population above the poverty line and this growth will not be possible unless entrepreneurship in the country gets a massive boost.

Kant was speaking at Entrepreneur 2019 event on the roadmap for India to become a $10 trillion economy by 2030.

He further said that India needs to be open to globalisation, and embrace the growing urbanisation. There are plenty of opportunities emerging due to urbanisation, such as recycling water and waste, mass transportation, education, healthcare, electric vehicles and many more.

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"Electric vehicles are a sunrise opportunity as India has over 72 percent two-wheelers; our endeavour should be to make these electric, and also manufacture electric vehicles for the world, in India," he said.

On globalisation, he said: "Unless we penetrate global markets, we cannot make our mark on the world scene especially since favorable unit value realisation is abroad. If we are capable of providing solutions to the issues of 1.3 billion Indians; we can very well address the 7.8 billion population in the world - and address the growing middle - class population," he added.

India currently ranks third in the world in the startup ecosystem.

Over 16,500 startups are recognised in the country and these startups are from 499 districts of the country with 47 percent coming from tier-2 and 3 cities.

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First Published on Jul 17, 2019 03:02 pm
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