Startups must come forward to help India become self-reliant in energy and defence sectors, Union Commerce Minister Piyush Goyal said asserting that the Ukraine crisis is a wake-up call not to be dependent on imports of crude oil and defence equipment.

Exhorting the startup sector to exploit the opportunities available in the backdrop of geopolitical uncertainty in the Eastern Europe, the minister said every crisis can be converted into an opportunity like that of Covid pandemic. “Covid-19 is a big crisis and the ‘biggest of the century’ crisis was converted into an opportunity, wherein many of our boys and girls came up with innovative solutions to the problems.”

Goyal, who also holds consumer affairs, food & public distribution and textiles portfolios, was speaking at the ET Startup awards in Bengaluru.

“One can find many opportunities, like even in the current war crisis. The present Ukraine-Russia crisis is a wakeup call for all of us, not to be dependent on crude oil and defence equipment. He asked Startups to help India become self-reliant in energy needs,” he said.

Some of the startups, Goyal said, are looking for innovative ways for indigenisation of defence equipment.

He said the present situation fits in so beautifully in the Make in India programme launched 8 years ago, adding that the Atmanirbhar Bharat initiative and the outcome of Covid-19, “everything collectively is helping India’s growth trajectory”.

The minister assured the startups that the government was listening to their needs, and that its doors are open 24×7.

While referring to the traffic problem in Bengaluru, he asked startups to find solutions to ease the traffic.