Union Textiles Minister Giriraj Singh on Monday, 22 June 2026 invoked India's startup surge to champion the Viksit Bharat 2047 vision, citing more than 2.5 lakh startups and over 125 unicorns as evidence of the country's transformation under Prime Minister Narendra Modi.

Context

Posting on X, Giriraj Singh wrote that India has entered a new era of innovation, research and entrepreneurship under PM Modi's leadership. Translated from Hindi, the post reads: 'Dhhai lakh se adhik startups, 125 se adhik unicorn' — 'More than two-and-a-half lakh startups, more than 125 unicorns and employment opportunities for millions of youth are proof that the new India is not merely dreaming but is also realising those dreams.'

The minister added that research, technological innovation and a startup culture are the 'strong foundations of a developed India', and called for greater speed, innovation and resolve in the country's development journey. He tagged the post with #ViksitBharat2047, #StartupIndia, #Innovation and #NewIndia.

Policy Backdrop

The Startup India programme was launched by PM Modi on 16 January 2016 with an action plan aimed at simplifying regulations, providing tax benefits and building a national entrepreneurship ecosystem. Registered startups under the scheme benefit from tax holidays, easier compliance norms and public procurement preferences.

The Viksit Bharat 2047 vision — formally articulated by the government in 2022-23 ahead of India's centenary of independence — places research, technology and entrepreneurship at the core of the country's ambition to become a developed nation by 2047. Complementary programmes including Digital India and the Atal Innovation Mission form part of the same broader push away from the legacy licence-raj framework toward a startup-friendly regulatory and fiscal environment.

Stakeholders and Impact

The primary beneficiaries of the ecosystem being highlighted are young entrepreneurs and DPIIT-registered startups, whose ventures span sectors from fintech and agritech to health and deep technology. The government's Fund of Funds for Startups has channelled capital to venture funds that back early-stage companies, amplifying private investment.

For millions of young Indians, the startup culture represents an alternative to traditional government or corporate employment. Unicorn valuations — companies valued at over $1 billion — signal to global investors that Indian ventures can scale to world-class size, reinforcing the country's position as the third-largest startup ecosystem globally.

What's Next

Attention will now turn to the next DPIIT startup recognition report, which will provide updated official figures on registered startups and recognised unicorns. Any fresh allocation for the Fund of Funds for Startups in the 2026-27 Union Budget will be closely watched as a signal of the government's continued commitment to the ecosystem.

With 2047 as the horizon, the government's narrative links every incremental startup milestone to the larger national goal of developed-country status — making the sector's health both an economic indicator and a political benchmark for the ruling dispensation.