Start-ups future MNCs, to give 'Brand India' new global identity: PM

New Delhi: Prime Minister Narendra Modi on Saturday stressed that start-ups be set up in all sectors for building future multinationals which, he said, would give 'Brand India' a new global identity in the times to come.

Speaking after laying the foundation stone of IIM-Sambalpur's permanent campus in Odisha through videoconference, the Prime Minister said: "This is the perfect time. Today's start-ups are tomorrow's multinationals. These start-ups are emerging in Tier 2 and 3 cities. These start-ups will play a big role in establishing multinationals."

Modi said that the scope for start-ups is expanding. "You have to prepare yourself for new possibilities. Our youths are responsible for giving 'Brand India' a new global identity."

The Prime Minister said that the permanent campus of the Indian Institute of Management-Sambalpur will not only showcase the culture and resources of Odisha but will also give Odisha a global recognition in the field of management.

He said that the country recently witnessed the trend of Indian MNCs as opposed to earlier trend of multinationals coming to India from outside.

Noting that India has seen more 'unicorns' in recent troubled times, the Prime Minister said that rapid reforms are taking place in the agriculture sector.

In such a scenario, Modi said, students should align their career plans with national aspirations.

"In this new decade, it is your responsibility to give Brand India a global recognition," the Prime Minister said.

He dwelled at length on the students' role in making the local rise up to the global level.

The Prime Minister asked students to work on local products holding great potential, such as handicraft, textiles and tribal art.

He also asked them to work on better management of abundant minerals and other resources in the area, as all this will contribute to the Atmanirbhar Bharat campaign.

"IIM students will need to find innovative solutions for making local global as they can work as a bridge between Atmanirbhar Bharat Mission, local products and international collaboration. You have to show your management skills in tune with the mantra of innovation, integrity and inclusiveness."

The Prime Minister talked about the new management challenges in the light of new technologies like additive printing, changing production techniques, logistics, and supply chain management.

"These technologies coupled with digital connectivity, and work from anywhere concept have turned the world into a global village. India has undertaken rapid reforms in recent months and tried not only to keep pace with the changes but also tried to anticipate and surpass them," the Prime Minister added.

He expressed happiness that the country was coming out of the short-term solutions to problems to long-term solutions. He gave example of Jan Dhan accounts and how LPG connection coverage had improved from 55 per cent in 2014 to 98 per cent now in the country.

"Management is not just handling big companies but also taking care of lives," Modi said.

Odisha Governor Ganeshi Lal, Chief Minister Naveen Patnaik, apart from Union Ministers Ramesh Pokhriyal 'Nishank', Dharmendra Pradhan, and Pratap Chandra Sarangi were present on the occasion.