Blue Economy and Space Economy are among some of the new concepts introduced in last 9 years by Prime Minister Narendra Modi.

This was stated here today by Union Minister of State (Independent Charge) Ministry of Science & Technology, PMO, Ministry of Personnel, Public Grievances & Pensions, Atomic Energy and Space, Dr. Jitendra Singh while addressing “Vyapar Sammelan” (Industry and traders’ Meet) as a part of the month-long campaign to commemorate the 9 years of Modi government.

Dr. Jitendra Singh said, one of the hallmarks of Prime Minister Modi’s approach towards the economy has been that he not only reinforced and strengthened the existing pillars of economy by imposing a check on pilferage or malpractice and by reducing the load of avoidable restrictions and regulations for ease of business, but he also introduced new dimensions to Indian economy which hardly received any attention by previous governments even though these were important. If India has to compete globally, it will have to stand up to global parameters and the value addition to the future economy of the country will come from hitherto lesser explored areas like ocean resources and Space.

It is also a matter of pride, said the Minister, that even though our space journey started several years after countries like USA and Soviet Union, but today, these countries are using our technology provided by ISRO (Indian Space Research Organisation) for launching their satellites. 353 out of the total 385 foreign satellites launched so far have been launched during the last 9 years and 174million US Dollars have been earned while the launching of the European Satellites has yielded 86 million Euros.

Dr Jitednra Singh said, while India has as the fastest growing economy, overtaken the United Kingdom, it has also generated revenue by launching their satellites.

As far as the Blue Economy is concerned, Prime Minister Modi spoke about the Deep Sea Mission in his Independence Day address because he wants to make people aware of the Blue wealth that lies hidden under the seabed.

Dr Jitendra Singh called upon the business community to adapt to the new culture of business and make maximum use of technology.

The Minister said, there is no such technology which is not available in India but sometimes we were not able to utilise it because we are not fully aware of it. The government today is not only providing ease of business but also offering assistance in developing new entrepreneur products and marketing the same, he said.

The Minister particularly called upon the business community to identify potential StartUps. He said it goes to the credit of Prime Minister Narendra Modi that India stands at Number-3 in the world in StartUp Ecosystem. But in order to sustain this, we have to continuously work hard.

Dr Jitendra Singh also hailed Prime Minister Narendra Modi for revival of Khadi business which has yielded more than 10 Lakh Crore of turnover.

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