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‘India leading the world’: PM Modi hails India’s start-up sector in Mann ki Baat
The country has entered into an era of start-ups even in small cities, and the number of unicorns, or start-ups with a valuation of at least $1 billion or RS 7,000 crore, is increasing, Modi said in his Mann Ki Baat programme
India has emerged as a destination for highly valued start-ups, and the investment they are attracting both from within the country and overseas was unimaginable even a few years ago, Prime Minister Narendra Modi said in his monthly radio broadcast on Sunday.
The country has entered into an era of start-ups even in small cities, and the number of unicorns, or start-ups with a valuation of at least $1 billion or RS 7,000 crore, is increasing, Modi said in his Mann Ki Baat programme.
“Till 2015, there were just nine to 10 unicorns, but now India is flying high in the world of unicorns. According to a recent report, a big change has come this year itself,” the Prime Minister said. “In just 10 months, a unicorn was made in India every 10 days.”
He said that it was a big achievement because India’s youth have achieved this success in the midst of a pandemic. “Today, there are more than 70 start-ups in India that have a valuation of more than $1 billion,” Modi said. “Due to the success of start-ups, everyone has noticed it. And the way it is getting support from investors from all over the country and abroad…, one could not have imagined it a few years ago.”
The central government has started a programme called Startup India, which allows several facilities, including funding and investment, tax exemptions and industry-academia incubation in sectors such as agriculture, manufacturing, health care and education, he said.
Modi encouraged youth to become job creators. Three things matter a lot in a country that has a lot of young population, he said. The first is ideas and innovation, the second is the passion to take risks, and the third is the can-do spirit.
“A few years ago, if anyone said they wanted to start a new company, or start a business, family elders used to advise against that. They would ask the person to take up a job as that would offer job security, salary and a hassle- free existence,” he said. “Today, if anyone wants to start his own company, people around him are excited and supportive. People today are trying to become job creators, not just job seekers.”
The Prime Minister also referred to the death anniversary of BR Ambedkar on December 6 and said discharging one’s duty would be a fitting tribute to him.
“Babasaheb Ambedkar devoted his entire life to discharge his duties for the country and society. We must never forget that the basic spirit of our Constitution expects all of us to discharge our duties,” Modi said. “So let us take a pledge that in the Amrit Mahotsav, we will try to fulfil our duties with full devotion. This will be a tribute to Baba Saheb.”
Azadi ka Amrit Mahotsav is an initiative of the government of India to celebrate and commemorate 75 years of India’s independence.
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While interacting with a listener who is a beneficiary of the government’s health care scheme for the underprivileged, Modi commented that he does not covet power but seeks to serve. “I do not seek power, I want to serve the people,” he said.
