Speaking at a mega event marking a decade of the flagship programme ‘Startup India’, Modi asked the founders and entrepreneurs to work on new ideas and solve problems, all the while keeping a sharp focus on quality products
PM Narendra Modi attends an exhibition in New Delhi marking 10 years of the Startup India initiative. Pic/PTI
Prime Minister Narendra Modi on Friday said India has full faith in the innovation and confidence of its startups, and added that the nation should lead globally in startup trends and technology in the coming decade.
A nation that is forward-looking on Artificial Intelligence (AI) will have a competitive advantage, Modi said.
Speaking at a mega event marking a decade of the flagship programme ‘Startup India’, Modi asked the founders and entrepreneurs to work on new ideas and solve problems, all the while keeping a sharp focus on quality products.
“Our goal should be that in the coming 10 years, India will lead the world in new startup trends and technology,” Modi said. Startup India initiative was launched on January 16, 2016, as a transformative national programme to nurture innovation, promote entrepreneurship and enable investment-driven growth, with the objective of making India a nation of job creators rather than job seekers.
He hailed Startup India as a “revolution” that has transformed India into the world’s third-largest startup ecosystem, growing from fewer than 500 startups in 2014 to over 2 lakh today, including nearly 125 unicorns. The PM said that the time has come for startups to also focus on manufacturing and research.
On Friday, at the programme marking a decade of the Startup India initiative, PM also interacted with founders of India’s vibrant startup ecosystem.
On the India startup success story, Modi said several schemes have been rolled out to provide seed funds to startups, while outdated rules have been done away with.
The PM said that India’s youth and entrepreneurs are focused on solving real problems, and the Startup India mission has become a revolution.
Youth in tier-2 and 3 cities, even those in rural areas, are setting up their own ventures, Modi said. Today, 45 per cent of startups have either one woman director or partner, he added.
Risk-taking, which was discouraged, has become mainstream, he observed, lauding India's startup founders for their “impressive” confidence and ambitions.
2016
Year Startup India initiative was launched
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