Kerala can become brand ambassadors of Industrial Revolution 4.0: Union Finance Minister Nirmala Sitharaman

Ernakulam (Kerala) [India], October 14 (ANI): Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Monday said that Kerala’s youth can become powerful brand ambassadors of the Industrial Revolution 4.0, which is guided by advanced technologies such as artificial intelligence, machine learning and more.

“We’re currently living in an era of Industrial Revolution 4.0, which is guided by Artificial Intelligence, Machine Learning, Big Data and Analytics etc. It’s largely led by young minds spending a lot of time in research and innovation. That’s why India can be a leader in it because our youth is very talented and is using innovations to create out-of-the-box solutions. Our aspirations are high and we want to achieve what the other countries could not achieve. We bank on our youth to achieve that and Kerala can become a brand ambassador for the same,” Sitharaman said, addressing at the ‘Meet the Great Leaders’ Programme at St. Teresa’s College in Ernakulam, Kerala,

Further, she said that the World Bank and the IMF have recognised that the country will remain the fastest-growing economy even this year, alongside its rapid development as a knowledge hub.

“We are living in an India where people’s efforts are paying off. The government’s policies are supportive and as a result, we’re simultaneously pushing all levers so that growth can be sustained. IMF and World Bank have recognised that even this year, India will continue to be the fastest growing economy,” she added.

The Union Minister said that the government came up with schemes like PM MUDRA and PM SVANidhi to extend its support to the people who do not have any assets.

“For supporting people who do not have any assets, the government came up with schemes like PM MUDRA and PM SVANidhi, where the beneficiary doesn’t have to give any security to obtain the loan. Government standing as security for supporting small businesses has helped a lot of people,” she said.

She further said that the PM Internship Scheme is aimed at acting like a bridge for the students who’ve come fresh out of college and bridge the employability gap.

“In a prospective employee, companies are looking for something more than just a suitable degree or qualification so that they don’t have to spend months to train them on the job. As of today, under this scheme, 39 companies from the top 500 in India have given 1,800 internship opportunities in Kerala, of which 1/3rd are provided by the companies in Ernakulam itself. The internships here are being offered in diverse sectors ranging from manufacturing, automotive and textiles, to banking, financial services, travel and hospitality,” she added.

Highlighting the importance of financial literacy among children, Sitharaman said, “From childhood, we need to have financial education given to students and we should not wait for them to become adults to understand how to handle their money.”