Prime Minister Narendra Modi on Wednesday said that India’s startup ecosystem has witnessed rapid growth, creating employment for hundreds of thousands of people and transitioning job seekers into job providers.
He was speaking during the concluding day of the Startup Mahakumbh, a three-day event that saw the participation of hundreds of start-ups, incubators, investors, and delegations from over 10 different countries.
“India is the world’s third largest startup ecosystem. There are over 1.25 lakh registered startups that generate employment for over 12 lakh people,” PM Modi said.
Reiterating the government’s vision of a developed India, or “Viksit Bharat,” by 2047, PM Modi said that events like the Startup Mahakumbh are a significant step towards realizing this vision.
“India has over 110 unicorns… Our startups have registered over 12,000 patents. I request all of you to get your patent as early as possible,” PM Modi said.
The Prime Minister praised Startup India for its role in providing financial assistance, especially to entrepreneurs from smaller cities, to set up their businesses. The initiative supports innovative ideas by facilitating funding for projects and labs.
