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Courage is crucial: PM prods startups to make bold moves
PM Modi urged India's startups to focus on manufacturing and AI, aiming for global leadership in emerging technologies, marking 10 years of Startup India.
Prime Minister Narendra Modi on Friday called on India’s startup ecosystem to turn their focus towards manufacturing and artificial intelligence, declaring that the country must lead the world in emerging technologies over the next decade after establishing itself as the third-largest startup hub globally.
“Now is the time for our startups to focus more on manufacturing,” Modi said at the National Startup Day event marking 10 years since he launched the Startup India Initiative on January 16, 2016, with the objective of transforming India into a nation of job creators rather than job seekers.
“In just 10 years, the Startup India Mission has become a revolution. Today, India is the world’s third-largest startup ecosystem,” Modi said. “The last 10 years have proven the country’s capabilities. Our goal should be that India must lead the world in new startup trends and technologies in the next 10 years.”
The Prime Minister said courage is the first condition for enterprise, acknowledging the risks Indian youth have taken to make Startup India successful. “Earlier risk-taking was discouraged in the country, but today it has become mainstream, and those who think beyond monthly salaries are not only accepted but also respected,” he said.
“Ideas once considered fringe are now becoming fashionable,” Modi added, drawing parallels with his own political risk-taking. He said he is always willing to undertake tasks that are good for the nation, irrespective of adverse political fallout. “Considering them ‘high political risks’, the previous government avoided those issues for decades out of fear of losing elections or power. Like innovators, I also believe that if something is necessary for the nation, I must take the risk.”
Modi emphasised that nations leading in AI will have a strategic advantage, adding that the responsibility for India lies with its startups. Acknowledging challenges such as high computing costs, he said solutions are being provided through the India AI Mission, with more than 38,000 GPUs onboarded to make advanced technology accessible to smaller startups while ensuring indigenous AI is developed by Indian talent on Indian servers. He added that similar efforts are underway in semiconductors, data centres, green hydrogen, and other sectors.
“Startup India is not just a scheme, it is a rainbow vision connecting diverse sectors with new opportunities,” Modi said.
The Prime Minister highlighted how the government has opened strategic sectors to startups. Through the Innovation for Defence Excellence (iDEX) programme, startups are now competing with established players in defence manufacturing, with new procurement pathways opened in strategic sectors. Nearly 200 startups are working in the space sector after the government opened it up, while the drone sector has been opened for startups after removing outdated rules that had long held Indian innovators back.
To provide market access, particularly in public procurement, the Government e-Marketplace (GeM) is playing a significant role. About 35,000 startups and small businesses have onboarded GeM, receiving around half a million orders worth about ₹50,000 crore, Modi said.
The government has launched a ₹1 lakh crore Research, Development and Innovation Scheme because “today’s research becomes tomorrow’s intellectual property,” along with a deep-tech fund of funds to support long-term investment in sunrise sectors. Modi underlined the need to prepare for the future by working on new ideas in emerging domains that will play a crucial role in economic security and strategic autonomy.
Modi said the growth momentum of startups will continue to accelerate as today’s startups become unicorns, launch IPOs, and create more jobs. “These figures testify to how India’s startups are driving employment, innovation, and growth,” he said.
Union commerce minister Piyush Goyal said Indian startups are currently active in over 50 sectors, including deep-tech, AI, machine learning, quantum computing, agri-tech, space tech, drone technology, aerospace, and rocket technology. “Startups are now present in every corner of the country, with nearly 50% originating from tier-II and tier-III cities, demonstrating that the startup revolution has truly become an Indian movement,” he said.
Goyal said the world is recognising the prowess of Indian startups, and during bilateral trade negotiations, several countries expressed keen interest in establishing startup bridges with India. He estimated that nearly 100 countries are seeking to collaborate with India’s startup ecosystem through inter-startup coordination platforms.
