PM Modi Celebrates Startup India's Decade of Innovation and Global Impact

Speaking at Bharat Mandapam, New Delhi, PM Modi lauded the country's startup founders and innovators who chartered a path for themselves and boosted the country's image globally.

"India's youth are focused on solving real problems. Driven by innovation and enterprise, India's Startups are shaping a self-reliant and resilient economy," PM said.

"In just 10 years, the Startup India Mission has become a revolution. Today, India is the world's third-largest startup ecosystem," he added.

He noted that a decade ago, there were fewer than 500 startups in the country.

"Today, that number has soared to over 2,00,000. In 2014, India was home to just four unicorns, but now it boasts more than 125 active unicorns. This remarkable growth has captured the world's attention," the Prime Minister said.

These startups work in over 50 areas, including deep tech, space tech, drone tech, quantum tech, agritech, and AI/ML, among others.

He said the startups are now becoming Unicorns, and the existing Unicorns are now launching IPO and creating several jobs in the country.

"I see before me the future of a new and emerging India," he said, while appreciating those who showed the courage to dream.

Recalling the situation a decade ago, he said there was no scope for individual effort and innovation at all.

"We challenged those circumstances, we launched Startup India, and we gave the youth an open sky, and today the result is in front of us. This 10-year journey is not just the story of a government initiative's success; it is the journey of thousands and lakhs of dreams like yours. It is the journey of countless dreams coming to life," PM Modi said.

He stated that earlier startups were often perceived as a path to failure, and were limited to children belonging to the rich class.

But the Startup India programme enabled youth in tier-2 and 3 cities, as well as in villages, to dream. It led to inclusive growth.

"Women are major contributors to the Startup India mission. In about 45 per cent of recognised startups, there is one woman director or partner. India now has the second-largest global ecosystem for women-led startup funding," the Prime Minister said.

"Over the past decades, we have done quite remarkable work in digital startups and the service sector. Now is the time for our startups to focus even more on manufacturing. We will have to create new products. We will have to create products of the world's best quality.

"In technology, too, we will have to take the lead by working on unique ideas. The future belongs to this. I assure you, the government stands with you in every effort of yours," PM Modi said.

- IANS