New Delhi, Jan 15 (NationPress) Prime Minister Narendra Modi is poised to take part in a special event in the national capital this Friday, celebrating a decade since the inception of the ‘Startup India’ initiative, as announced on Thursday.

Launched on January 16, 2016, by Prime Minister Modi, ‘Startup India’ aims to be a transformative national programme that fosters innovation, encourages entrepreneurship, and supports investment-led growth, with the vision of transforming India into a hub of job creators instead of job seekers.

As per a statement from the Prime Minister's Office (PMO), PM Modi is expected to interact with key players from India’s dynamic startup ecosystem.

Selected representatives from startups will share their experiences and insights gained throughout their entrepreneurial journeys. Additionally, the Prime Minister will address attendees during this significant event, according to the statement.

Over the past decade, India’s startup ecosystem has seen remarkable growth, with over 200,000 startups recognized nationwide.

These startups have emerged as vital contributors to job creation, innovation-driven economic development, and the enhancement of domestic value chains across various sectors.

The ‘Startup India’ initiative has become a fundamental component of India's economic and innovation framework.

It has fortified institutional structures, broadened access to funding and mentorship, and created a conducive environment for startups to expand and thrive across different sectors and regions, as noted in the statement.

Recently, PM Modi encouraged startups to utilize AI for the benefit of society. During a roundtable with Indian AI startups at his residence, located at 7, Lok Kalyan Marg, he urged them to make AI solutions more affordable, inclusive, and transparent.

The government reports a continuous expansion of the startup ecosystem in India, with the Department for Promotion of Industry and Internal Trade (DPIIT) recognizing 201,335 startups eligible for incentives under the ‘Startup India’ initiative, leading to the creation of over 2.1 million jobs nationwide.

Furthermore, domestic patent applications by Indian innovators surged by 425% from 2014 to 2024, and India’s position in the Global Innovation Index has advanced to 38th in the GII 2025 rankings.