PM Modi praises entrepreneurs, says Indian startup ecosystem has grown by leaps and bounds
- ByStartupStory | May 3, 2022
Prime Minister Narendra Modi on Monday praised Indian entrepreneurs, noting that the Indian startup ecosystem had grown by leaps and bounds in the past few years.
The PM said, “In the year 2014, the country had nearly 400 startups. Today, there are 68,000 startups, and many of them have gone on to emerge as unicorns too.” He also added, “Several dozens of these startups have become unicorns. I can now proudly say that numerous unicorns have gone on to become decacorns too.”
Prime Minister Modi made the comments while addressing a gathering of the Indian diaspora in Germany’s Berlin. He arrived in Germany on May 2 as part of the first leg of his three-nation trip to Europe. His statement comes on the same day as India minted its 100th unicorn on May 2. Bengaluru-based neo banking platform Open raised USD 50 Mn in a funding round led by IIFL.
He also said that a new India has emerged that does not merely think of a secure future but rather takes risks and innovates. These comments come close on the heels of Modi saying that startups were the backbone of new India in January 2022. Union Minister Piyush Goyal, on April 28, also made headlines when he urged Indian founders to incorporate and list their startups in India.
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