Prime Minister Narendra Modi on March 20 said India is the world’s third-largest startup ecosystem, with the youth leading the way.
“India’s startup ecosystem flourishing at an unprecedented rate, driven by the youth. This is not limited to metro cities, it has now become a social culture,” PM Modi said.
On the startup ecosystem, Modi highlighted how the psyche has changed from wanting to be “job seekers” to being “job creators”.
“India preparing a roadmap for a developed country, we took the right decision at the right time,” the prime minister added.
He was speaking at the Startup Mahakumbh in the national capital.
Top 10 Updates: PM Modi at Startup Mahakumbh
– Prime Minister Narendra Modi, speaking at the Startup Mahakumbh on Wednesday, highlighted India’s thriving startup ecosystem, where individuals are transitioning from job-seekers to job providers.
– PM Modi underscored the global recognition of Indian youth’s capabilities, stating that India is now nurturing the aspirations of its youth by fostering a culture of entrepreneurship.
– Previously monopolised by the government, the space sector has witnessed a significant surge in startups, with over 50 now operating independently since its recent opening to private players.
– India currently ranks as the world’s third-largest startup ecosystem, boasting more than 1.25 lakh registered startups employing over 12 lakh people. Additionally, the nation hosts over 110 unicorns, with startups having secured over 12,000 patents to date.
– Addressing the nation’s trajectory towards becoming a developed nation by 2047, PM Modi stressed the significance of the Startup Mahakumbh in driving this vision forward.
– PM Modi noted the evolution from India’s dominance in the IT and software sector to the burgeoning trend of innovation and startup culture across various industries.
– Taking a dig at political opponents, PM Modi differentiated between genuine startups and those in politics, applauding the former’s resilience and appetite for innovation.
– PM Modi expressed optimism about India’s future, observing a palpable energy and potential for numerous unicorns and decacorns within the ecosystem.
– Reflecting on the ‘Startup India’ initiative, PM Modi commended its role in providing a platform for budding entrepreneurs, facilitating access to funding, and establishing incubation and tinkering labs.
– PM Modi highlighted the inclusivity of India’s startup revolution, noting the participation and leadership of youth from tier 2 and tier 3 cities.
(With inputs from ANI)
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Published: 20 Mar 2024, 11:37 AM IST