Home / Companies / Start-ups /  Industry should be ready to be equal stakeholder in startups, says Jitendra Singh

New Delhi: Industry should be ready to take up the responsibility of being equal stakeholder in startups, right from the moment the project is conceived, said Union minister Jitendra Singh.

Addressing an session of industrialists, startups and innovators at the Indian Institute of Chemical Technology (IICT) in Hyderabad, the minister said that this was essential for sustaining startups in the long run by linking them with livelihoods and to bring value addition to the Indian industry as per global benchmarks.

“The specialized and skilled manpower developed by the IICT should find a naturally integral place in the pharma and biotech industry of Hyderabad in particular and India in general," Singh said.

He advised industry leaders to set up an institutionalised mechanism and come forth with precise and concrete proposals for doing away with unwarranted regulations and options to avoid procedural delays.

“Hyderabad Pharma City (HPC) under making is the world’s largest integrated cluster in Hyderabad for pharmaceutical industries with thrust on R&D and manufacturing. The cluster is recognized as national investment and manufacturing zone (NIMZ) by the government of India, given its national and international importance. Developed at international standards, Hyderabad Pharma City will harness the true value of symbiotic co-existence across pharmaceutical value chain," the minister added.

Singh said that each of the 37 CSIR (Council of Scientific & Industrial Research) Labs spread across the country is dedicated to a different exclusive area of work. “The ongoing ‘One Week, One Lab’ campaign is offering an opportunity to each one of them to showcase the work being done by it so that others can avail of it and stakeholders learn about it."

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