While speaking at the Bharat Startup Summit organised by the PHD Chamber of Commerce, the minister said India is taking a leap in 5G technology with the fastest rollout of networks in the world.

“Electronics is very complex, but despite the complexity, our scientists, engineers and academicians have together acquired 100 patents in 6G,” Vaishnaw said.

The minister shared that the 5G network rollout has far exceeded the government of 200 cities by March 31, 2023, with coverage in 397 cities at present. He said India has become USD 3.5 trillion, and it can become the world’s largest economy with transformation across governance, infrastructure and businesses.

“When a country or economy has to reach this level then thousands of systems are required to be changed. Governance systems, logistics systems, banking systems and change in the own business method. This is the time when everyone should get on to this transformation journey. If we are able to do this transformation then there is no power that can stop India from becoming a USD 30 trillion economy,” Vaishnaw said.

The minister said 10 years ago 99 percent of mobile phones were imported and now, 99 per cent of units used in India are made locally. He slammed the Congress party, alleging a lax attitude toward mobile phone manufacturing in the country.

“I remember when we used to sit in on any discussion 10 years ago. It was said mobile penetration is good. People are using it, but it cannot be made. Congress thought the process was like this. Now, a big change has come that we can make it,” Vaishnaw said.

He also informed that India has started the export of telecom products to the US.

“Export of radio equipment has started from India in the last 7-8 months and that too to America,” Vaishnaw said.

Union Minister Jitendra Singh asked companies to encourage the leadership of women and look at opportunities in exploring businesses around the ocean economy.

“In the next 3-4 years, we will have ocean startups. We have 7,500 long coastal belts, longer than any other country has,” he said.

Singh said that the ocean has more minerals than those available over the ground in the Indian peninsula.

“A whole lot of wealth is lying there-minerals, metals, living, non-living resources. You will become a world exporter of fisheries and fish food,” he said.

The minister said that India has no dearth of talent, and there is a need to channelise them.