Union Minister for Petroleum and Steel Shri Dharmendra Pradhan on December 14, 2019 attended the CHEMCON 2019, 72nd Annual Session of Indian Institute of Chemical Engineers at Indian Institute of Technology (IIT), Delhi.
Shri Pradhan said, “Innovation cannot be achieved without having the courage to fail. We must move away from the culture of “status quo”. Any economy cannot grow by leaps and bounds without the support of innovation driven by its scientific community.We are moving towards a knowledge based economy. India will be at the centre of global innovation. The shifts in global economic landscape coupled with India’s vibrancy is making India, the hotspot of global growth.” He further said “We have ample intellectual capacity to solve our challenges. IITs are the pride of our country. They are breeding ground for academic excellence and offer immense opportunities.”
Industry 4.0
Speaking about Industry 4.0, he said, “Industrial Revolution 4.0 presents immense opportunity to India. We must own our failures, and become brave innovators.” The Minister informed that Oil and gas PSUs have set up a fund of Rs. 300 Cr to support startups. ’’I have even advised PSU companies to support innovation and entrepreneurship by employees,” he added.
