Prime Minister Narendra Modi praised Bharat’s burgeoning startup ecosystem, revealing that an impressive 45 percent of startups in the country are spearheaded by women entrepreneurs. Speaking at the Startup Mahakumbh event, PM Modi emphasized the remarkable growth of the startup sector, which now boasts a staggering valuation of Rs 20,000 crore.
Highlighting the diverse range of startups emerging in Bharat, PM Modi noted their presence across various sectors, from agriculture to space exploration. He underscored the transformation of the space sector, traditionally dominated by the government, with over 50 startups now actively contributing to the industry’s advancement.
PM Modi lauded the entrepreneurial spirit among Bharatiya youth, citing a shift from job-seeking to job-providing aspirations. To support this transition, the government has allocated Rs 1 lakh crore towards nurturing sunrise sectors like chip-making, defense production technologies, and semiconductors.
Acknowledging the vital role of industry bodies such as CII and FICCI, PM Modi called for their active involvement in mentoring young startups and facilitating research and development initiatives. He emphasized the significance of Artificial Intelligence (AI) in shaping the future, dubbing it as ‘America-India’ and stressing its global impact.
Under the Startup India initiative, PM Modi highlighted the platform’s role in fostering innovative ideas and connecting them with funding opportunities. Notably, the startup culture has transcended beyond metropolitan cities, reaching over 600 districts across the country, indicative of its integration into the social fabric.
PM Modi urged collaboration between industry leaders and the government to further nurture the startup ecosystem. Digital protection emerged as a key focus area, with efforts underway to establish a funding mechanism that directly benefits startup owners.
Emphasizing India’s commitment to innovation, PM Modi announced significant allocations towards establishing the National Innovation Mission. He underscored the country’s conducive environment for research and experimentation, highlighting its vast potential for innovation-driven growth.
In conclusion, PM Modi reiterated the government’s unwavering support for the startup community, calling upon all stakeholders to join hands in fueling India’s entrepreneurial journey towards greater heights of success and global recognition.
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