PM Modi claims that ‘start-ups are the backbone of New India’
- ByStartupStory | January 17, 2022
Prime Minister Narendra Modi called for innovating for and from India to address the country’s challenges on Saturday, as he outlined the government’s efforts to free entrepreneurs and innovation from bureaucratic silos.
“Our startups are changing the rules of the game. I believe that startups are going to be the backbone of New India,” he said interacting with youngsters from the world of startups. “Let us innovate for India, innovate from India.”
As per him, India has over 60,000 startups, including 42 unicorns.
To strengthen the innovation, entrepreneurship, and startup ecosystem, the government is focusing on three aspects: “freeing entrepreneurship and innovation from government and bureaucratic silos; setting up institutional mechanisms to promote innovation; and handholding of youth innovators,” he said.
In describing recent achievements, he stated that 28,000 patents were granted last year, compared to 4,000 patents in 2013-14. In comparison to the 70,000 trademarks registered in 2013-14, 2.5 lakh trademarks were registered in 2020-21.
“Because of the country’s innovation programme, India’s ranking on the Global Innovation Index is improving. In 2015, India was ranked 81st, and now it is ranked 46th “he stated
Startups are not only bringing new ideas to the market, but they are also becoming major job creators.
He added that the year 2022 will bring new opportunities and avenues for startups, and that January 16 will be designated as National Startup Day to help spread startup culture to the grassroots.
Easy access to funds, as well as self-certification for compliance with nine labour and three environmental laws, according to Modi, are helping to promote startups.
He stated that innovation and technology-based solutions are being encouraged in order to find solutions to the country’s problems.
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