Union minister for commerce and industry and railways Piyush Goyal on Tuesday called for a strong India-Shanghai Cooperation Organisation partnership to “nurture innovation and move towards the establishment of a transparent, fair and rational new international political and economic order”.
Inaugurating the 1st SCO Start-up Forum, a maiden initiative by the commerce and industry ministry in collaboration with Confederation of Indian Industry, the minister said: “The SCO has been a key regional cooperation effort in the Eurasian region in the past two decades and SCO member states have huge amount of untapped potential and talent. Their participation at today’s launch of the forum is a reflection of the desire to expand the engagement and nurture the spirit of innovation among member states.” India has been a member of the SCO since June 2017.
The SCO Start-up Forum will facilitate sharing of best practices and knowledge, foster engagement of corporates and investors from member states, enable mobilising and monetising of capital, setting up incubators and provide scale, exposure and market access. “This will help the worthy ideas, innovations and unique concepts developed by the entrepreneurs to get larger traction through the forum,” said Goyal.
India has provided an encouraging framework to have more start-ups come up with brilliant ideas by recognising interesting work through the national start-up award programme.