India's Startup Ecosystem 3rd Largest Worldwide, Credits Timely Decisions: PM Modi

New Delhi: Prime Minister Narendra Modi announced on Wednesday that India has solidified its position as the world’s third largest startup ecosystem, boasting an impressive 1.25 lakh startups and a remarkable 110 unicorns. Speaking at the prestigious Startup Mahakumbh event, Modi emphasized that India’s startup culture transcends the boundaries of metro cities and has now become an integral part of our social fabric.

Modi vowed that he will make India the world's third largest economy in his third term, and asserted that startups will play a big role in India's progress. The Startup India initiative gave platform to innovative ideas, and connected entrepreneurs and ventures to funding, he said.

"During the G20 Summit, leaders from various countries were awestruck by our UPI. UPI has strengthened our efforts for financial inclusion. It has helped India to bridge the rural-urban divide. India has democratized the use of technology. We have risen above the 'haves and have-nots' debate. Over 45% of our startups are run by women," PM said while addressing the event.

#WATCH | Delhi: At the 'Startup Mahakumbh' at Bharat Mandapam, PM Modi says "During the G20 Summit, leaders from various countries were awestruck by our UPI. UPI has strengthened our efforts for financial inclusion. It has helped India to bridge the rural-urban divide. India has… pic.twitter.com/U833j6iyFu — ANI (@ANI) March 20, 2024

India's youth has chosen the path of being job creator rather than job seeker, Modi said, highlighting the changing mindset of people. He said women are leading more than 45 per cent of Indian startups. India has democratised technology, and therefore the 'haves and have-nots' theory can not work here.

The Rs 1 lakh crore fund announced for research and innovation in interim budget will help the sunrise sectors, Modi said.