The PM Narendra Modi government is promoting and acknowledging grassroots innovators for the first time in India, says Union Minister Dr Jitendra Singh. Singh emphasized Prime Minister Modi’s commitment to ‘Virasat Bhi aur Vikas Bhi’ for integrating India’s exclusive traditional knowledge with modern cutting-edge technology. He also released a postal stamp, followed by a magazine titled ‘Innovation Frontline’ and a coffee table book to mark the occasion. The Minister highlighted the Micro Venture Innovation Fund (MVIF) – a pioneering initiative by the NIF with SIDBI that has provided necessary risk capital to 238 innovation-based enterprise projects. 713 patents have been granted in India and 5 in the US, underscoring NIF’s role in fostering grassroots innovations. Over 25 grassroots startups and several hundred enterprises, some with Rs 10+ crore annual turnover, are thriving under its support, creating rural employment opportunities. Dr Singh called upon all innovators to contribute towards making India a ‘Viksit Bharat’ by 2047.
