Digital Innovation Alliance aims for global collaboration among startups
Author: BI Bureau
New Delhi: The Digital Innovation Alliance program under India's G20 Presidency aims to bring together the startup ecosystems of G20 nations and nine invited guest countries, said Jeet Vijay, CEO of MeITY Startup Hub while speaking at the G20-DIA national roadshow here recently.
In line with the Prime Minister's vision of a global, interconnected future, Vijay said: "The initiative will bring together the startup ecosystems of 29 countries in six sectors critical to human development: agri-tech, food security, health-tech, fintech, cybersecurity, and circular economy."
The program will offer virtual accelerator mentorship, funding support, and investor pitching opportunities to the selected startups. It will culminate in a multi-day event in Bangalore, where participants will have access to global investors, corporates, and government officials for potential funding, strategic alliances, and pilot projects.
HK Mittal, Chairman of the Startup India Seed Fund Committee, discussed the evolution of India's digital revolution, highlighting key moments in the nation's history that have led to its current status as a leading player in the digital ecosystem.
Mittal also highlighted the Startup India Seed Fund, which operates entirely on a digital platform. The fund provides startups with up to 20 lakh rupees as a grant and up to 50 lakh rupees as an investment, using various financial instruments. This initiative has helped startups in India grow exponentially, even during the challenging times of the Covid-19 pandemic.
FIA Global’s CFO Madhusudhan Gupta addressed the importance of financial inclusion in India and its economic impact. He emphasized the need for accessibility to banking services and credit availability, especially for the lowest strata of society. Gupta also acknowledged the role of microfinance institutions in promoting financial inclusion.
Biplabketan Paul, Director, Naireeta Services, spoke about the power of digital innovation in helping ultra-poor farmers achieve a drought-free India. His company is dedicated to enabling farmers to repurpose floodwater and combat droughts using innovative technologies. Naireeta Services has expanded its reach to 18 states in India and eight countries globally, with plans to enter 12 more countries soon.
The Digital Innovation Alliance aims to celebrate, recognise, and accelerate an inclusive startup ecosystem, fostering global collaboration and sharing opportunities. FICCI, jointly with the MeITY Startup Hub and the Digital Innovation Alliance, organised the G20-DIA national roadshow. /BI/
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The exports of agricultural commodities from March to June 2020 shot up by 23.24 percent on-year to Rs 25,552.7 crores.
As the economy comes to a standstill amid the coronavirus-led lockdown, India’s agriculture sector has taken the baton of economic growth in its hands. The exports of agricultural commodities from March to June 2020 shot up by 23.24 percent on-year to Rs 25,552.7 crores, according to the Ministry of Agriculture & Farmers Welfare. The government said that self-reliant agriculture is critical for the goal of an Atmanirbhar Bharat and for this, agricultural export is extremely important as besides earning foreign exchange for the country, the exports help farmers, producers, and exporters to take advantage of the wider international market and increase their income.
The surge in exports has also resulted in increased production in the farm sector by increasing coverage area and productivity. The share of India’s agricultural exports and imports in the world agriculture trade in 2017 was 2.27 percent and 1.90 percent, respectively. Even during the difficult time of pandemic lockdown, India took care not to disturb the world food supply chain and continued to export, the government said.
Ministry of Agriculture has prepared a comprehensive action plan for the promotion of Agri trade; the twofold approach focuses on boosting Agri Export with emphasis on value addition and action plan for Import Substitution. Recently, the Agriculture sector has witnessed a series of reforms, giving more choices to the farmers to sell their produce at competitive rates.
To mention a few, the Export strategy focuses on the export promotion of fast-evolving niche markets of Wellness food/ Health-conscious food/nutraceuticals, Development of “Brand India” in campaign mode to help penetration into new foreign markets and of new products which automatically translates into higher value realization, Gulf countries have been identified as focus destination to increase the market share which is a strong market for India though presently India caters to only 10-12% share of their total imports. A product-market matrix has been made containing a list of products of strength that could be expanded in new geographies and a list of known markets which can be introduced with newer products.
At the behest of the Department of Agricultural Cooperation & Farmers’ Welfare, Ministry of Agriculture, product-specific Export Promotion Forums have been created to lead Agri exports to new heights. Each Export Promotion Forum shall be having exporters of the related commodity as its members along with official members representing concerned Ministries/Departments of the Central and State Governments. Chairman APEDA shall be the chairman of each of these forums. The forums will meet at least once every two months, to discuss recommendations on issues pertaining to the export.
The recommendations of the forum will be placed in the product committee / Authority of APEDA. The Forum will keep in close contact with the concerned organization of the Ministry of Agriculture such as MIDH, Extension, NPPO, etc., DGFT, Ministry of Civil Aviation, MoFPI, etc. to further the interest of agricultural export.
