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PM Modi lauds growth of start ups in India on Mann Ki Baat

Nov 28, 2021 12:46 PM IST

Encouraging the youth to become job creators, PM Modi said in a country with high young population, three attributes, namely, ideas and innovation, passion to take risks and can-do spirit were the three things that created success stories

In his monthly radio address Mann Ki Baat, Prime Minister Narendra Modi on Sunday said India has become home to high valuation start-ups with more than 70 such firms achieving unicorn status, and the funds they pulled in from investors within and outside the country was unimaginable till a few years ago. Unicorns are start-ups that have a valuation of more than $1 billion.

The government of India earlier started a flagship programme known as Startup India to help create an ecosystem for growth of startups in the country. (PIB Photo/File)
The government of India earlier started a flagship programme known as Startup India to help create an ecosystem for growth of startups in the country. (PIB Photo/File)

The PM said the number of start-ups and unicorns were on the rise even in small cities in the country.

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“Till 2015, there were just 9 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; in just 10 months, a Unicon was made in India every 10 days,” PM Modi said.

He said it was a big achievement for our youth in the midst of the pandemic. “Today there are more than 70 start-ups in India that have a valuation of more than $1 billion. Everyone has noticed the success of our start-ups and the investors backing it has received from all over the country and abroad…one could not have imagined it a few years ago,” the PM said.

The government of India earlier started a flagship programme known as Startup India to facilitate funding, investment, tax exemptions and industry- academia incubation for startups in sectors such as agriculture, manufacturing, healthcare and education.

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Encouraging the youth to become job creators, he said in a country with high young population, three attributes, namely, ideas and innovation, passion to take risks and can-do spirit were the three things that created success stories.

“A few years ago, if anyone wanted to start a new company or business, family elders used to advise against that. They would ask the person to take up a job instead for job security, salary and a hassle- free existence. However, today if someone wants to start a company, people around are excited and supportive. People today are trying to become job creators not just job seekers,“ he said.

The PM also referred to BR Ambedkar’s anniversary on December 6 and said discharge of our duties will be a fitting tribute to him.

“Babasaheb Ambedkar devoted his entire life to discharging 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. 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,” he said.

Unveiling 'Elections 2024: The Big Picture', a fresh segment in HT's talk show 'The Interview with Kumkum Chadha', where leaders across the political spectrum discuss the upcoming general elections. Watch Now!
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    Smriti covers an intersection of politics and governance. Having spent over a decade in journalism, she combines old fashioned leg work with modern story telling tools.

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