PM Modi says from 300 to 70,000 there is a tremendous increase in building start-ups in the last decade
- ByStartupStory | May 14, 2022
Prime Minister Narendra Modi said on Friday that the number of start-ups in India has increased to 70,000 from 300 to 400 in the previous decade and that they are becoming unicorns even faster. The Prime Minister remarked this at the introduction of Madhya Pradesh’s “Start-up Policy 2022.” “You must remember that when my administration came to office in 2014, there have been around 300-400 start-ups in the nation. But the situation has completely changed in the last eight years, and today there are 70,000 recognized start-ups in the nation,” Modi added.
According to him, India boasts the third – biggest ecosystem in this field, and a start-up may transform into a unicorn in just eight to 10 days.
In such a short period, a start-up transforms into a unicorn with an investment of approximately 7,000 crore, and on average, a young person creates a new unicorn in the nation every eight to ten days, he added.
“This demonstrates the country’s youth’s strength and (presents) a fresh example of their determination,” he added. According to the prime minister, start-ups in the nation are diverse, and they are not restricted to just a region or two or four major areas but are scattered throughout numerous states and smaller villages.
According to Modi, these start-ups are connected to over 50 various businesses across the country.
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