Startup Mahakumbh Event 2024 Highlights: More youth turning job-providers, says PM

Startup Mahakumbh Event 2024 LIVE: The PM said that India's startup ecosystem was not limited to just metro cities, it has now become a social culture. He said that India is preparing roadmap to become a developed country and that it took right decision at the right time.

These stories are connected to the ‘Startup Mahakumbh’ event held in Delhi. Do check out.

Startup Mahakumbh Event 2024 LIVE: "Over the past decades, we have seen how India has left its mark in the IT and software sector. Now we are seeing the trend of innovation and start-up culture continuously increasing in India," PM Modi said.

Startup Mahakumbh Event 2024 LIVE: There are over 1.25 lakh registered startups which generate employment for over 12 lakh people, the Prime Minister has said. India has over 110 unicorns, the country's startups have registered over 12,000 patents by far, he added.

Startup Mahakumbh Event 2024 LIVE: "The world sees the capability of Indian youth. Trusting their capabilities, we decided to fuel their aspirations. We have transformed people's thinking; instead of being a job-seeker, the youth is now keen on becoming a job-provider," PM Modi said.

The space sector, which was once in shackles of the government, now has over 50 startups, he said.

India today is the world's 3rd largest startup ecosystem, the Prime Minister added.

Startup Mahakumbh Event 2024 LIVE: Though veiled but seemingly targeting Congress leader Rahul Gandhi, Prime Minister Narendra Modi drew a parallel between startups and politics.

Addressing the Startup Mahakumbh, one of thhe first large congregation of startups, the Prime Minister said many people try to launch political startups but the difference between them and the original startups is the latter's thrust for new ideas.

Startup Mahakumbh Event 2024 LIVE: India has emerged as the world's third largest startup ecosystem with over 1.25 lakh startups and 110 unicorns, and is charting a roadmap for becoming a developed nation with right decisions taken at the right time, Prime Minister Narendra Modi said on Wednesday.

Speaking at the Startup Mahakumbh event, Modi said India's startup ecosystem is not limited to metro cities, it has now become a social culture.

"Artificial Intelligence opens many avenues for young innovators and global investors. Initiatives like the National Quantum Mission, India AI Mission and Semiconductor Mission open gates of opportunities for the youth..." said the Prime Minister.

'Will make India the world's third largest economy in my third term,' says PM Modi at Startup Mahakumbh event.

"The space sector, which was once in shackles of the government, now has over 50 startups. The world sees the capability of Indian youth. Trusting their capabilities, we decided to fuel their aspirations... We have transformed people's thinking; instead of being a job-seeker, the youth is now keen on becoming a job-provider...", PM said.

Speaking at the event PM Modi said that Indian women were leading over 45% of country's startups, PM said.

India's youth has chosen path of being job creator rather than job seeker, says PM Modi on startup ecosystem's changing mindset

"Usually, a business mind thinks that elections are near, we will see when the new government comes to power. Elections have been declared and despite that you have organised such a big event. This means that you know what's going to happen in the next five years," he said.

Addressing the Startup Mahakumbh event in Delhi PM Modi took a dig at Rahul Gandhi. Modi said, “...Start-up toh bohot log launch karte hain, aur politics mein toh zyada. Baar baar launch karna padta hai. Aap mein aur unme fark yeh hai ki aap log prayogsheel hote hain, ek agar launch nahi hua to turant doosre par chale jaate hain...”

PM is addressing the Startup Mahakumbh Event presently.

Startup Mahakumbh Event 2024 LIVE: Union minister Piyush Goyal is speaking at the Startup Mahakumbh event at present and is lauding the country's startups at the event.

Startup Mahakumbh Event 2024 LIVE: Prime Minister Narendra Modi is attending the 'Startup Mahakumbh' event at Bharat Mandapam presently.

Startup Mahakumbh Event 2024 LIVE: PM Modi visits Bharat Mandapam ahead of his address at Startup Mahakumbh event

Here's where to watch PM's programme live.

Startup Mahakumbh Event 2024 LIVE: PM Modi will address entrepreneurs at Bharat Mandapam shortly.

Startup Mahakumbh Event 2024 LIVE: During his remarks at the Startup Mahakumbh event, G20 Sherpa Amitabh Kant emphasized the necessity for Indian startups to adopt a self-regulatory framework to ensure transparency and ethical conduct. He cautioned against the pursuit of valuation at any cost, noting that it can sometimes result in misgovernance.

Kant further asserted that regulatory intervention should be avoided if India aims to foster a vibrant startup ecosystem, as excessive government regulation can impede innovation.

Highlighting India's achievement in establishing the third-largest startup ecosystem globally, Kant outlined the country's goal of becoming the leading nation for startups within the next five years.

Startup Mahakumbh Event 2024 LIVE: At the startup Mahakumbh in the capital, entrepreneurs were energized by the untapped economic prospects of rural India. In an interview with ANI, Prasanna Kumar, the founder of Vilcart Solutions Pvt Ltd, highlighted the immense potential present in rural India, particularly concerning business prospects.

Kumar also underscored the importance of government policies in bolstering startups and the rapidly growing entrepreneurship scene in the nation.

Referring to recent data, he pointed out that a considerable segment of direct consumption, spanning agricultural produce and urban consumption, stems from rural India.

Startup Mahakumbh Event 2024 LIVE: At the 'Startup Mahakumbh' held at Bharat Mandapam, Shirish Joshi, the Chief Business Officer of Open Network for Digital Commerce (ONDC), provided valuable perspectives on the effects of governmental policies, India's developmental path, and the flourishing entrepreneurial environment in the nation.

"The vision of the current government is to make public goods in digital form so that there can be applications build on the top of that, that make it easy for everyone to access services" Joshi told news agency ANI.

Joshi also expressed optimism about the nation's evolving entrepreneurial landscape. He noted a palpable shift in energy, creativity, and enthusiasm among individuals, highlighting a marked difference from previous years.

Startup Mahakumbh Event 2024 LIVE: The inaugural day of Startup Mahakumbh, a significant gathering of Indian startups, concluded with enlightening sessions led by industry experts. The proceedings commenced with a panel discourse focused on the role of startups in fulfilling the vision of Viksit Bharat.

The inaugural session was graced by Amitabh Kant, G20 Sherpa and Former CEO, NITI Aayog, Rajesh Kumar Singh, Secretary, DPIIT, Ministry of Commerce and Industry (MOC&I), Sanjiv, Joint Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry (MOC&I), Prashant Kumar Singh, CEO, Government e Marketplace (GeM), Arvind Gupta, Head and Co-founder of Digital India Foundation, among others.