Union Finance Minister Nirmala Sitharaman on Saturday asked young graduates to explore contributing to the frontier sectors of space and atomic energy by taking up entrepreneurship.
In her address to the fresh graduates of Nirma University at its 29th Convocation, the Finance Minister stated that the objective of opening up the sectors for private participation was to bring in youth energy and new ideas in these areas.
"In the recent budget we have opened up several sectors which were till now completely reserved for government. These are the areas, in which university graduates, have immediate possibility to get in and be an entrepreneur to innovate and support and contribute with a newer thoughts and bring youth energy."
Sitharaman stated that sectors of space and atomic energy can immediately benefit from the participation of young graduates.
"These sectors offer immense scope for even the individuals and not necessarily large companies. We have given this opportunity for one person companies to come in the areas of space and atomic energy," she stated.
In the Union Budget 2021 announcements, the government has allowed one-person companies to operate without any restrictions on paid-up capital or on turnover.
She also stated that Covid-19 lockdown and restrictions turned out to be a fruitful period for nurturing new ideas and grow them into businesses. During Covid lockdown, restrictions on movements did not deter our entrepreneurs. Our startups are contributing to newer areas. Some of them have grown to be unicorns, thanks entirely to the Covid restrictions that triggered innovative thinking. A good and positive tendency exists in our minds as Indians. To find newer opportunities, even during challenging times, is what the spirit of being an Indian entrepreneur," she said.
Encouraging the young graduates from the field of science and technology, management, pharmacy, commerce, architecture to think innovatively, Sitharaman asked them to not fear of society. "Young minds should have no fear, and they shouldn't be worried about the approvals from others. Important is to contribute to the society without a sense of fear," she said in her virtual address.
The 29th Convocation saw 2,380 students receiving graduation, post-graduation and PhD degrees. Karsanbhai K Patel, President, Nirma University presided over the event. The University presented 59 medals to 51 students for their exemplary performance in academics.