Budget Session 2022: 60,000 startups created 6 lakh jobs since 2016, says President Kovind

President Ram Nath Kovind said that India's startup eco-system is an example of the endless new possibilities that are rapidly taking shape under the leadership of our youth.

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New Delhi: President Ram Nath Kovind, on Monday (January 31), said that more than 60,000 start-ups set up in 56 different sectors have created 6 lakh new jobs in the country. 

Addressing both the houses of Parliament - Lok Sabha and Rajya Sabha - on day one of the Budget Session, he said India's startup eco-system is an example of the endless new possibilities that are rapidly taking shape under the leadership of our youth. 

“Due to the policies of my government, today India is one of the countries where the cost of internet is the lowest, and the cost of smart phones is also the lowest. The young generation of India is getting huge benefit from this,” President Kovind added. 

He also applauded the MSME sector and said that MSMEs have been the backbone of India’s economy, and have been driving a self-reliant India. “Our goal is that the goods needed by our forces should be developed in India and manufactured in India itself,” President Kovind added. 

President Kovind also informed that seven Mega Integrated Textile Regions and Apparel Parks are being set up by the Indian Government with an investment of about Rs 4500 crores for the development of the textile industry. According to the President, the move will create an integrated textile value chain in the country. Also Read: President Ram Nath Kovind addresses joint session of Parliament; here are the key highlights of his speech

President Kovind also noted that due to government efforts, India has once again become one of the fastest-growing economies in the world. He also added that today, India has emerged as the second-largest mobile phone manufacturer in the world. Also Read: Economic Survey 2022 Live updates: PM Gatishakti National Master Plan giving impetus to infrastructure-development works: Prez Kovind