Covid put conventional methods to test, innovation came to rescue: Modi

New Delhi : Inviting investors to the country, Prime Minister Narendra Modi on Wednesday said that innovation came to the rescue during Covid as he highlighted India's major benefits for both investors and innovators.

Delivering his keynote address at the 5th edition of VivaTech, one of the largest digital and start-up events in Europe, he said: "Covid-19 put many of our conventional methods to test. However, it was innovation that came to the rescue. By innovation, I refer to: Innovation before the pandemic. Innovation during the pandemic."

"When I speak about innovation before the pandemic, I refer to the pre-existing advances which helped us during the pandemic. Digital technology helped us cope, connect, comfort and console. Through digital media, we could work, talk with our loved ones and help others," he said.

Modi stated that the second part, innovation for the pandemic refers to how humanity rose to the occasion and made the fight against it more effective and in this, the role of the country's start-up sector, has been paramount.

"India's strides in the world of tech and start-up are well-known. Our nation is home to one of the world's largest start-up eco systems. Several unicorns have come up in recent years," he said.

The Prime Minister said: "India offers what innovators and investors need.I invite the world to invest in India based on the five pillars of Talent, Market, Capital, Eco-system and Culture of openness."

Citing reforms in different sectors, he said: "We, in India, implemented huge reforms across sectors, be it mining, space, banking, atomic energy and more. This goes on to show that India as a nation is adaptable and agile, even in the middle of the pandemic."

Stressing India's extensive relation with France, he said: "India and France have been working closely on a wide range of subjects. Among these, technology and digital are emerging areas of cooperation."