Government Policies Propel India to Third-Largest Startup Ecosystem: PM Modi
- ByStartupStory | August 16, 2023
Prime Minister Narendra Modi proclaimed that India’s robust government policies have played a pivotal role in propelling the nation to become the world’s third-largest startup ecosystem. Speaking to the nation on the occasion of India’s 77th Independence Day, PM Modi highlighted the unwavering support provided to the country’s youth, which has facilitated this remarkable achievement. He underscored that India’s economic growth trajectory remains steadfast, with increasing exports and global experts acknowledging the nation’s positive economic outlook.
“I believe in the power of youth; it is my strength… Our policies empower the youth, harnessing their potential… The vigor of Indian youth astonishes the world,” PM Modi asserted from the historic Red Fort’s ramparts. He proudly attributed India’s achievement as “the third-largest startup ecosystem globally” to the resolute strength of the nation’s youth. As of April 30 this year, the government has officially recognized a substantial 98,119 entities as startups. These startups are entitled to a range of incentives, including advantageous tax benefits through the Startup India scheme. Various initiatives such as the Fund of Funds for Startups, the Startup India Seed Fund Scheme, and the Credit Guarantee Scheme offer vital support to these entities at different stages of their business journey. The inception of the Startup India initiative on January 16, 2016, exemplifies the government’s dedicated efforts to foster a robust ecosystem for innovation and startups within the country.
The Prime Minister’s proclamation underscores the transformative impact of government policies on India’s entrepreneurial landscape. As the nation continues to march forward on its growth path, the vibrant startup ecosystem stands as a testament to the nation’s aspirations and untapped potential.
“The youth of the world are getting amazed by seeing the strength of Indian youth.” – Prime Minister Narendra Modi
The assertion made by PM Modi resonates as a resounding testament to India’s prowess in the startup arena. As the nation forges ahead on its journey of progress and innovation, the spotlight remains firmly fixed on the country’s burgeoning startup landscape.
Follow Startup Story
Related Posts
