Modi lauds India’s startup ecosystem, says decisions were taken on time

At Startup Mahakumbh event in New Delhi, the PM said women are leading more than 45 per cent of Indian startups.

• Shubham
• 20 March, 2024

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By: Shubham Ghosh

INDIAN prime minister Narendra Modi on Wednesday (20) said the country has come up as the world’s third largest startup ecosystem with more than 125,000 startups and 110 unicorns and is charting a roadmap for becoming a developed nation by taking right decisions at the right time.

Speaking on the concluding day of the Startup Mahakumbh event in New Delhi, the PM said India’s startup ecosystem is not limited to the metropolitan cities and has evolved as a social culture.

Modi also reiterated his pledge to make India the world’s third largest economy in his third term, which he and his Bharatiya Janata Party (BJP) are confident to win in this year’s election, and asserted that startups will play a major role in India’s success.

Read: Gujarat tops India’s Startup Ranking 2022; ‘matter of joy & pride,’ says CM

The Startup India Initiative, which the Modi government launched in January 2016 to support entrepreneurs, build a robust startup ecosystem and transform India into a country of job creators instead of job seekers, gave platform to innovative ideas, and connected entrepreneurs and ventures to funding, the prime minister said.

Read: India’s scale enable startups to thrive globally, says Goyal

Speaking at Startup Mahakumbh. Powered by the innovative spirit of our Yuva Shakti, India's Startup ecosystem is flourishing at an unprecedented pace.https://t.co/IP4NymH1h8

— Narendra Modi (@narendramodi) March 20, 2024

India’s youth has chosen the path of being job creators rather than job seekers, Modi said, highlighting the changing mindset of people.

He said women are leading more than 45 per cent of Indian startups. India has democratised technology, and therefore the ‘haves and have-nots’ theory can not work here.

The Rs 1 lakh crore (£9.47 billion) fund announced for research and innovation in the interim budget will help the sunrise sectors, Modi said.

(With PTI inputs)