India Has One Of The Largest Startup Ecosystem In The World: PM Modi

SUMMARY

Addressing the Rotary's 113th annual international convention, PM Modi said many Indian startups are seeking to provide solutions to global challenges.

He also discussed the ‘Atmanirbhar Bharat’ movement and how the initiative is taking shape in India

The Centre as well as state governments in the country are trying to boost the startup ecosystem and have come out with a series of initiatives to promote startups

India has one of the largest and fastest-growing startup ecosystems in the world, Prime Minister Narendra Modi said on Sunday (June 5).

Addressing the Rotary’s 113th annual international convention, Modi said that many of the Indian startups are seeking to provide solutions to global challenges.

The prime minister also stressed upon the significance of sustainable development and emphasised the ethos of staying in harmony with nature.

All attendees in the event appreciated India’s commitment to net-zero emissions. Modi said that 1.4 Bn Indians are taking every possible step to make the earth cleaner and greener.

The five-day Rotary International Convention will see participation of over 20,000 magnates and public figures, including Ashton Kutcher, Justin Trudeau and John Cena.

Saying that India is open to learning from global best practices and sharing its best practices with others, Modi also highlighted the ‘Atmanirbhar Bharat’ movement and how the initiative is taking shape in India. “The aim is to make India self-reliant and also contribute to global prosperity,” he said.

Government’s Push For Startups

The Indian government is promoting startups for job creation and innovations, and has taken a series of initiatives to build the startup ecosystem in the country.

In his monthly Mann Ki Baat address last month, Modi lauded the Indian startup ecosystem for reaching the milestone of 100 unicorns.

On Monday (June 6), the prime minister also launched Jan Samarth Portal to cater to the financial needs of students, farmers, small businesses and startups. Through this portal, entrepreneurs can avail credit through various schemes for startups, such as the Stand Up India Scheme and the PM Employment Generation Programme.

Besides, Vice President M Venkaiah Naidu launched India-Qatar Startup Bridge to connect the startup ecosystem of the two nations and bolster their growth.

Besides, various state governments also have also introduced or revamped their startup policies to boost the growth of startups. Delhi, Tamil Nadu and Arunachal Pradesh are some of the states which have come up with policies recently to promote their startup ecosystems.