Narendra Modi invites IIT graduates to explore start-up universe

Modi urged the graduating students to focus on quality, never compromise, and make their innovations work at a mass scale

"Don't be a Lite version", be original, Prime Minister Narendra Modi told budding technocrats as he exhorted them to explore setting up start-up ventures.

Addressing the 51st annual convocation of IIT-Delhi, Modi listed out initiatives of the government for funding start-up ventures, including a Rs 10,000 crore 'Fund of Funds' and tax exemptions for setting up new businesses.

“Focus on quality – never compromise. Ensure scalability – make your innovations work at a mass scale. Assure reliability – build long-term trust in the market. Bring in adaptability – be open to change and expect uncertainty as a way of life,” the Prime Minister said addressing the gathering through a video link.

He asked students to be flexible and humble as they set out to achieve their goals in life.

“At no point of your life must you shed your identity. Never be a 'Lite Version' of someone or something. Be the original version. Champion whatever values you believe in,” he said.

“At the same time, never hesitate from fitting into a team. Individual efforts have their limits. The way ahead lies in teamwork. Teamwork brings completeness,” the PM said.

He also asked students to be rightfully proud of their success and achievements.

The Prime Minister said the government was encouraging innovation in diverse fields ranging from agriculture to space science.

“For the first time, we have cleared the way for private investments in the space sector. We have also removed restrictions that tied up the fin-tech sector and allowed facilities such as 'work from home' and 'work from anywhere', besides simplifying the other services provider guidelines,” Modi said.

“These initiatives would make the country's IT sector more competitive globally and create opportunities for young talent,” he said.

Education Minister Ramesh Pokhriyal Nishank was present at the convocation ceremony at the IIT-Delhi campus, where a total of 2,019 graduating students were awarded degrees.