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Business Standard

Integration of govt, industry and academia vital for growth: Jitendra Singh

Union Minister Jitendra Singh on Tuesday called for the integration of government, industry and academia to achieve India's development goals, saying the age of working in silos is over. Speaking after inaugurating a state-of-the-art Incubation Centre at IIM Mumbai, Singh stressed that greater synergy between the public and private sectors is not an option, but a necessity. "The integration of academia, industry, and government is essential for India to meet its rapid development goals. The age of silos is over. Now we are getting more and more integrated," the MoS for Science and Technology said. The minister said all stakeholders, including representatives of the industry, should be brought together as the demarcation between the private and public sectors does not exist. "It is no longer an option, it is a necessity to achieve the country's development goals," the minister said. AIC-NITIE Incubation Foundation for Innovation and Entrepreneurship is an umbrella organisation at IIM Mumbai for fostering entrepreneurship and nurturing tech start-ups. Funded by the NITI Aayog and the government, the organisation administers a business incubator that provides 'start to scale' support for technology-based entrepreneurship and facilitates the conversion of research activity into entrepreneurial ventures. With India rising to the third largest startup ecosystem in the world, Singh said that the number of startups has grown from 350 in 2014 to over 1.5 lakh in 2025. "Startups in space tech are adding significant value. The government has allowed 100 per cent FDI in the space sector and set up a Rs 1,000 crore venture fund for space-based startups," he said. The minister debunked the myth that startups are limited to IT professionals from elite institutions. "Startups are built on aptitude, ideas, and innovation- not just fancy degrees," he said, adding that entrepreneurial potential exists across every sector, from biotech to agri-tech, to every age group. He further stated that agriculture, contributing only 14 to 15 per cent to GDP, supports the largest section of India's population and it presents huge potential that can be tapped through technology and innovation. "We are no longer looking for the domestic benchmarks. We are trying to match the global benchmarks and we have the aspiration, confidence, and means to set out that goal for ourselves," he added. Over 49 per cent of start-ups are from B-towns because they are more aspirational and driven by competitiveness and success, the minister said. "Therefore, when you are looking for a career for yourself, or looking for prosperity for yourself, you will also realise that you are not only making good for yourself, but you are also contributing to the making of the 'Viksit Bharat'," he added.