Gandhinagar, May 17: Union Commerce and Industry Minister Piyush Goyal stated on Sunday that India’s annual output of approximately 1.4 million STEM (Science, Technology, Engineering, and Mathematics) graduates has become a significant asset for the country’s technological, manufacturing, and innovation capabilities.
Speaking at the inauguration of the Innovation and Incubation Center at the National Institute of Design (NID) in Gandhinagar, Goyal emphasized that the increasing number of scientists, engineers, and technical experts in India is attracting global investments and strengthening the country’s position in emerging industries.
“When I tell foreign ministers that India produces around 1.4 million STEM graduates each year, they are astonished. This immense power of our youth is India’s greatest strength,” he remarked.
The event was attended by Union Home Minister Amit Shah, Gujarat Chief Minister Bhupendra Patel, and Deputy Chief Minister Harsh Sanghvi.
Goyal highlighted on the social media platform X that institutions like NID play a crucial role in transforming the youth from “job seekers” to “job creators.” He stated that design, innovation, and entrepreneurship are set to become the new identity of a developed India.
He expressed confidence that this institution will provide global recognition to India’s creative talents and elevate the concept of “Designed in India” to new heights.
Goyal noted that India is the world’s fastest-growing major economy, with the third-largest startup ecosystem globally. He mentioned that the rapid expansion of the 5G network and affordable internet is bringing digital opportunities to rural areas.
He added that innovation is no longer limited to metropolitan areas; youth from smaller towns are also launching startups and establishing global businesses.
“Today, many young innovators only need a laptop, digital connectivity, and proper guidance to advance their ideas,” he stated.
He revealed that around 1,700 to 1,800 global companies are conducting innovation and design work through their Global Capability Centers (GCCs) in India, driven by the country’s skilled workforce, affordable digital connectivity, and robust infrastructure.
Goyal asserted that the future economy will not rely on cheap labor but will be based on automation, artificial intelligence, skilled manpower, creative design, and innovation.
He urged students to focus on fields such as semiconductors, artificial intelligence, machine learning, quantum computing, deep tech, and space technology.
Additionally, he emphasized the need for better collaboration between educational institutions and the industry, stating that institutions should assist students in transforming their creative ideas into commercial products and entrepreneurship.
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Arpit Soni has had a passion for journalism since the beginning. Now he has turned this hobby into his profession. Arpit, who is a resident of Udaipur, enjoys editing and writing news related to journalism. He has worked as a Senior Content Producer in several important roles at Bhaskar, Patrika, Pratahkal, Punjab Kesari, and Times. Arpit completed his schooling in Udaipur and Jaipur. He has been working in the media industry for more than 10 years, and his journey is still continuing. ✍️📚
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