Prime Minister Narendra Modi, addressing the Startup Mahakumbh on Wednesday, said India has startups across sectors and people have instead of seeking jobs become a job provider.
“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 in his address.
The space sector, which was once in shackles of the government, now has over 50 startups, he said. Space sector was opened to private players recently.
India today is the world’s 3rd largest startup ecosystem.
There are over 1.25 lakh registered startups which generate employment for over 12 lakh people. India has over 110 unicorns, the country’s startups have registered over 12,000 patents by far.
Stating that when the country is working on the roadmap for a developed India by 2047, he asserted that this Startup Mahakumbh has great importance.
“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.
Taking a jibe, at Opposition political parties, he 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.
“Many people try to ‘launch’ startups, especially in politics, sometimes multiple times… The difference between you and them is that you’re experimental. You try new ideas after the failure of one launch,” he said.
Over the past decades, India has made huge strides in the software and IT sector.
“Today, the energy and vibe is amazing. Strolling along the (exhibition) stalls and watching your inventions, I could feel the vibe that India’s future holds many Unicorns and Decacorns. For promoting startups, India made the right decisions at the right time,” PM Modi said.
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