20 March 2024 – Prime Minister Narendra Modi celebrates India’s rise as the world’s third-largest startup ecosystem, boasting 1.25 lakh startups and 110 unicorns. At the Startup Mahakumbh event, Modi highlighted the democratization of technology, financial inclusion through UPI, and the increasing role of women entrepreneurs in India’s startup landscape.
Modi’s address at the event emphasized the significance of startups in India’s economic growth, with plans to elevate India to the world’s third-largest economy. He praised the Startup India initiative for fostering innovation and facilitating funding for entrepreneurs. Notably, Modi highlighted the impact of UPI on financial inclusion, bridging the rural-urban divide.
Moreover, Modi underscored the changing mindset of India’s youth, who are increasingly becoming job creators rather than job seekers. He commended the significant role of women entrepreneurs, with over 45% of Indian startups being led by women.
The announcement of a Rs 1 lakh crore fund for research and innovation in the interim budget was lauded by Modi, signaling support for emerging sectors and startups.
Conclusion
Modi’s vision for India’s startup ecosystem reflects a commitment to fostering innovation, entrepreneurship, and economic growth. With continued government support and initiatives, India is poised to further strengthen its position as a global hub for startups and innovation.
