India has risen as the world’s third-largest startup ecosystem, boasting over 125,000 startups and 110 unicorns, PM Modi said on Wednesday at Startup Mahakumbh. He underscored the critical importance of making timely and judicious decisions in India’s trajectory towards achieving the status of a developed nation.
Addressing the Startup Mahakumbh event, PM Modi noted that the startup culture in India has transcended beyond metro cities and has become ingrained in society. He pledged to elevate India to the position of the world’s third-largest economy during his third term, underscoring the pivotal role that startups will play in driving India’s progress.
Modi credited the Startup India initiative for providing a platform for innovative ideas and facilitating connections between entrepreneurs and funding opportunities. He highlighted the shift in mindset among India’s youth, who are increasingly opting to become job creators rather than job seekers.
Notably, Modi pointed out that women are leading over 45 percent of Indian startups, showcasing the growing gender inclusivity in the startup ecosystem. He emphasized India’s democratization of technology, rejecting the notion of a technological divide between the privileged and the underprivileged.
Furthermore, Modi praised the Rs 1 lakh crore fund allocated for research and innovation in the interim budget, noting its potential to bolster emerging sectors. The fund is expected to catalyze growth in sunrise sectors and drive innovation across various industries.
