Prime Minister Narendra Modi commended India’s youth for their dedication to addressing real issues while marking the 10-year milestone of the Startup India initiative. Speaking in New Delhi, PM Modi praised the nation’s startup pioneers and innovators for carving out their paths and enhancing India’s global reputation.
Acknowledging the impact of the Startup India Mission over the past decade, PM Modi highlighted the transformation it has brought about. He emphasized that India’s startups, driven by innovation and entrepreneurship, are instrumental in shaping a self-reliant and resilient economy, propelling the country to become the world’s third-largest startup ecosystem.
PM Modi noted the significant growth in the startup landscape, with the number of startups in India surging from less than 500 a decade ago to over 200,000 presently. He also pointed out the rise in the number of unicorns, from just four in 2014 to more than 125 active unicorns today, attracting global attention to India’s startup scene.
These startups are engaged in diverse sectors such as deep tech, space tech, drone tech, quantum tech, agritech, and AI/ML, among others, showcasing the broad spectrum of innovation in the country. PM Modi highlighted the transition of startups into unicorns and the subsequent launch of IPOs, leading to the creation of numerous job opportunities nationwide.
Appreciating the courage and vision of those who dared to dream, PM Modi envisioned a promising future for a new and emerging India. He emphasized the inclusive nature of the Startup India program, which has empowered youth in tier-2 and 3 cities, as well as rural areas, fostering inclusive growth and enabling women to play a significant role in the startup ecosystem.
PM Modi stressed the need for startups to focus on manufacturing and develop high-quality products to compete globally. He encouraged the pursuit of unique ideas in technology, underscoring the government’s unwavering support for the entrepreneurial endeavors of the startup community.
