PM Modi says start-ups backbone of new India, Jan 16 to be celebrated as 'National Start-up Day'

By Team Newsable | First Published Jan 15, 2022, 2:21 PM IST

Prime Minister Modi further stated that startups in India operate in 55 distinct industries. He said, "India did not even have 500 startups five years ago! Today, that figure has surpassed 60,000."

Prime Minister Narendra Modi on Saturday used video conferencing to connect with over 150 startups from various industries. Each group was asked to deliver a presentation to the PM on one of the numerous themes to understand better how startups may contribute to national requirements by promoting innovation. The event commemorates the sixth anniversary of the Startup India initiative's inception.

PM Modi said that January 16 would be designated as 'National Start-up Day.' Furthermore, he stated that startups would form the backbone of the new India. When India celebrates its 100th year of freedom, he said, startups will play a significant part. The country's inventors are making the country proud across the world.

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He went on to say that "this decade is being dubbed the 'techade' of India...to boost the innovation, entrepreneurship, and startup ecosystem, essential factors such as releasing entrepreneurship, innovation from govt processes, and bureaucratic silos must be addressed."

Prime Minister Modi further stated that startups in India operate in 55 distinct industries. He said, "India did not even have 500 startups five years ago! Today, that figure has surpassed 60,000." Believing in the capacity and inventiveness of the young, according to the Prime Minister, is the foundation of every nation's progress. "Today, India believes in its youth and is implementing measures to support that belief," PM Modi added.

Also Read | Republic Day celebrations to begin from January 23 every year: Sources

According to an official statement, Prime Minister has been a firm believer in the potential of startups to contribute significantly to the nation's growth. The government has created an enabling environment for the creation and development of startups. It went on to say that this has had a huge influence on the country's startup ecosystem and has resulted in a stunning increase in the number of unicorns in the country. The event is part of the Azadi ka Amrit Mahotsav, celebrating the "Innovation Ecosystem."

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