Prime Minister Narendra Modi emphasized the pivotal role of India’s burgeoning start-up ecosystem in driving the country towards becoming the third-largest economy globally. Speaking at the Startup Mahakumbh event in New Delhi, he highlighted the democratization of technology in India, evident through achievements like widespread financial inclusion facilitated by UPI.
Modi encouraged successful founders to mentor aspiring innovators, urging MSMEs and industry bodies to identify manufacturing and supply chain challenges through hackathons. He credited India’s status as the third-largest start-up ecosystem to well-crafted policies, initiatives like Start-up Abhiyaan, and the establishment of incubators at educational institutes.
With 1.15 lakh registered start-ups and 110 unicorns, India boasts a diverse landscape, with 45% of start-ups led by women. Modi lauded the 12 lakh youths engaged in start-ups, filing 12,000 patents, and encouraged founders to seek patents for their innovations. Notably, start-up culture has spread beyond big cities to 600 districts, fostering a societal shift towards entrepreneurship.
Today’s start-ups span various sectors including agriculture, education, finance, Ayurveda, yoga, and space, showcasing India’s innovation prowess across diverse fields.
