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Given the progress the nation's start-up sector is making, the Minister for Communications, Electronics & Information Technology and Railways, Ashwini Vaishnaw, has stated that 1 crore (10 million) additional jobs can be created in the electronics and Business Processing Outsourcing (BPO) sector over the next two years.

The minister stated that the electronics sector alone could generate 2.5 to 3 million additional jobs and the BPO sector could generate 8 million jobs in the next two years, which would be a significant increase in the level of employment.

He was speaking at the launch of the National Level Start-up Initiative, which was organised by the Software Technology Park of India (STPI) and the Electronics and Computer Software Export Promotion Council (ESC).

Three megatrends that Prime Minister Narendra Modi predicted are coming to pass in the nation were mentioned by Ashwini Vaishnaw. The desire to become the technological leader, supported by the nation's talent pool, inventiveness, high level of computer literacy, and commitment to excellence, is foremost among them.

“We have now an ecosystem that gives importance to merit and talent, that can power innovations and disruptions," he said, adding that such a dispensation never existed before. There is a visible drive to proliferate frontier technologies in areas like telecom, electronics, railways, and other related areas to help India to emerge as a technology leader.

The manufacturing sector, which is experiencing an astounding amount of innovations, is next in importance, according to the Minister. This is especially true for the mobile phone system, where India has recently turned from being a net importer to a major exporter.

“It’s a marvellous achievement which we are trying to emulate in other segments including railways, chemicals, power and semiconductor" he said, adding that a lot of R&D efforts are currently underway to Fasttrack technological excellence in various segments.

This is accomplished by connecting tier 2 and tier 3 cities digitally so that entrepreneurship can be fostered from these cities to increase the development's bandwidth. 54 of the 64 digital hubs that have been put into place are in small cities and towns, which will significantly affect the growth of start-ups in the nation.

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