Amazon SMBhav 2024: Dr. Jitendra Singh Applauds Startups and AI Innovation for India’s 2047 Vision

2025-02-28

At the Amazon SMBhav 2024 summit, Union Minister Dr. Jitendra Singh highlighted India's rapid transformation into a global innovation hub, emphasizing the role of startups, artificial intelligence, and public-private collaboration in achieving the Viksit Bharat 2047 vision. He lauded Amazon’s expansion of its SMBhav Venture Fund to $350 million, aimed at fostering AI startups and local manufacturing, calling AI startups India's "Growth Catalysts."

Dr. Singh noted India’s dramatic rise from being among the "Fragile Five" economies a decade ago to now ranking among the top five globally, crediting bold government policies that have fueled 1.75 lakh startups, up from just 350 in 2014. The summit, themed "Naye India Ki Nayi Raftaar" (New India’s New Momentum), showcased over 50 interactive booths on AI, sustainable business, and digital transformation for MSMEs.

He also highlighted India’s leadership in biotech and space sectors, citing the Bio-E3 policy and the growth of private space startups from single digits to over 300 in just three years. Dr. Singh emphasized that India is now setting global benchmarks, with achievements like the world’s first DNA vaccine for COVID-19 and its leadership in the Global Partnership in AI (GPAI).

The event underscored the power of government-industry collaboration in driving technological and economic progress, positioning India as a self-reliant digital powerhouse by 2047.

Source: https://pib.gov.in/PressReleaseIframePage.aspx?PRID=2082859