PM Narendra Modi marked Startup India's 10th anniversary, calling it a 'revolution'. He lauded the rising leadership of women, noting over 45% of startups have a female director, and urged entrepreneurs to expand into manufacturing.
Marking a decade of the Startup India initiative on Friday, Prime Minister Narendra Modi described the mission's evolution into a "revolution" in the last 10 years. He lauded the increasing number of women in leadership roles and encouraged entrepreneurs to expand to move towards manufacturing.
Women's Pivotal Role in Startup Ecosystem
Addressing a programme marking the 10-year anniversary of the Startup India initiative on National Startup Day at Bharat Mandapam, Prime Minister Narendra Modi spoke about the contribution of women to the success of Startup India and noted that over 45 per cent of Indian startups have at least one woman director or founder. The Prime Minister noted that women have played a major role in transforming India's startup ecosystem. "Daughters of the country have played a major role in this transformation," he added.
He also emphasised India becoming the world's second-largest ecosystem in women-led startup funding, underlining that this inclusive momentum is further strengthening India's potential. "Currently, over 45 per cent of recognised startups in India have at least one female director or partner. In terms of women-led startup funding, India boasts the second-largest ecosystem in the world. This growing inclusivity within the startup sector is enhancing the country's potential. Today, India sees its future in the ongoing startup revolution," PM Modi said.
Startup India: A Decade of Revolutionary Growth
Startup India was launched on January 16, 2016, by the Prime Minister as a national programme to nurture innovation, promote entrepreneurship and enable investment-driven growth, with the objective of making India a nation of job creators rather than job seekers. Today marked the 10th anniversary of National Startup Day, and on this occasion Prime Minister spoke about the Indian startup ecosystem's growth trajectory. PM Modi further said, "Remember, what the situation was like 10 years ago... There was no scope for individual effort and innovation at all. We challenged those circumstances, we launched Startup India, and we gave the youth an open sky, and today the result is in front of us. In just 10 years, the Startup India mission has become a revolution. India is today the world's third-largest startup ecosystem. "
The Prime Minister praised young innovators on the completion of 10 years of the Startup India initiative, calling the journey a celebration of thousands of dreams turning into reality. "To our young innovators, who have shown the courage to dream new dreams, I deeply appreciate each and every one of you. Today, we are celebrating the 10-year milestone of Startup India. This 10-year journey is not just the story of a government initiative's success; it is the journey of thousands and lakhs of dreams like yours. It is the journey of countless dreams coming to life," he said.
Future Focus: Manufacturing and Technology Leadership
He called upon the Indian startup ecosystem to focus more on manufacturing and to create new, high-quality products for the world. "Over the past decades, we have done quite remarkable work in digital startups and the service sector. Now is the time for our startups to focus even more on manufacturing. We will have to create new products. We will have to create products of the world's best quality," PM Modi said, addressing the ten years of the Startup India programme.
In technology, too, the prime minister said Indian startups will have to take the lead by working on unique ideas. "The future belongs to this. I assure you, the government stands with you in every effort of yours," he assured the Indian startups.
Government Initiatives to Foster Innovation
Previously, the fear of compliance requirements, lengthy approval cycles, and inspector raj were major obstacles to innovation, he noted. "To address this, we created an environment of trust and transparency. Under the Jan Vishwas initiative, more than 180 provisions have been decriminalised. We have streamlined processes to save your time, allowing you to focus on innovation rather than getting entangled in litigation," PM Modi said.
In particular, startups now benefit from self-certification facilities across numerous laws. Additionally, procedures for mergers and acquisitions have been simplified, making it easier for businesses to grow and innovate.
Embracing a Culture of Risk-Taking
He described Startup India as a 'Rainbow Vision' that aims to connect different sectors with new opportunities. He also lauded the risk appetite of India's startups. "I have consistently emphasised risk-taking, because it has also been my long-standing habit. Tasks that no one was ready to take up, tasks that previous governments avoided for decades because they feared losing elections or power -- I have always considered it my responsibility to take them on. Like you, I too believe that whatever work is necessary for the country must be done by someone. Someone has to take the risk," he said.
Previously, risk-taking was discouraged, but today it has become mainstream, he said. People who look beyond their monthly salaries are not only accepted but also respected. Risk-taking ideas that were once considered fringe are now becoming fashionable, he noted.
Minister Goyal Highlights Transformative Impact
India's startup landscape has reached a historic milestone as the nation celebrates ten years of the Startup India initiative, with official data revealing that over 50 new startups are now being recognised across the country every single day. Union Minister of Commerce and Industry, Piyush Goyal, on Friday took to his social media account to mark the occasion by highlighting the transformative impact of the past decade on the nation's economy. He noted, "The proof of the stellar success of PM @NarendraModi ji's pathbreaking initiative is the over 2 lakh @DPIITGoI recognised startups in the country that have generated over 21 lakh job opportunities."
Minister Goyal also stated that India is now the 3rd largest startup ecosystem in the world, with Rs 15 lakh crore funding boosting the industry He said the most significant change in "resurgent and new India" is the self-confidence displayed by young Indians."Earlier, there was hesitation, fear and a fixed mindset score certain marks, choose a particular stream, or be labelled a failure," he said, recalling how career choices were once rigidly defined by academic scores.
'New India' and the Freedom to Experiment
Highlighting the impact of the National Education Policy, Goyal said, "Students today have the freedom to experiment with entrepreneurship, open learning, interdisciplinary education or even choosing not to attend college immediately after school. There is trust in the government, and trust in oneself to explore the unknown and go the extra mile to succeed." (ANI)
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