India leads world in startups, says Modi

INDIAN Prime Minister Narendra Modi on Sunday (28) praised the progress of startups across the country and said that in their era, India is leaving a global footprint as the sector is witnessing record investment every year. He said India is leading the way in the world of start-ups.

Modi, who was addressing the nation through his ‘Mann Ki Baat' radio programme (83rd edition), said there are more than 70 ‘Unicorn' startups in the country.

‘In every country with a large youth population, three aspects matter a lot. Sometimes, it becomes the true identity of the youth. The first aspect is – ideas and innovation. The second is the spirit of taking risks and the third is the ‘Can Do' spirit, that is, the determination to accomplish any task, no matter how adverse the circumstances be. When these three things combine, phenomenal results are produced, miracles happen,' Modi said.

‘This is the era of startups and it is also true that today India is leading the way in the world of start-ups. Start-ups here are getting record investments year after year. This sector is progressing very fast,' the prime minister added.

‘Till the year 2015, there used to be hardly nine or ten Unicorns in the country. In just 10 months, a unicorn is being raised in India every 10 days. This is also a big thing because our youth have achieved this success in the midst of the Covid. Today there are more than 70 Unicorns in India. That is, there are more than 70 startups that have crossed the valuation of more than $1 billion,' Modi said.

In his broadcast, the prime minister also noted that in the month of December, Navy Day and Armed Forces Flag Day are celebrated, and on December 16, it will be the Golden Jubilee year of the victory in the 1971 War.

‘On all these occasions I remember our armed forces, our soldiers, especially the brave mothers who gave birth to these warriors,"'he said.