New Delhi, Jan 16 (NationPress) Prime Minister Narendra Modi emphasized that the youth of India is dedicated to addressing genuine challenges while marking the 10-year anniversary of the Startup India initiative on Saturday.

Speaking at Bharat Mandapam in New Delhi, PM Modi praised the country's startup founders and innovators for paving their paths and enhancing India's global standing.

“The youth of India is committed to tackling real issues. Fueled by innovation and entrepreneurship, India's startups are constructing a self-reliant and robust economy,” remarked PM Modi.

“In just a decade, the Startup India Mission has evolved into a movement. Today, India boasts the third-largest startup ecosystem in the world,” he further stated.

He highlighted that a decade back, the country had fewer than 500 startups.

“Currently, that figure has skyrocketed to over 200,000. In 2014, India had merely four unicorns, but the count has now surpassed 125 active unicorns. This extraordinary growth has drawn global attention,” the Prime Minister noted.

These startups operate across more than 50 sectors, including deep tech, space tech, drone tech, quantum tech, agritech, and AI/ML, among others.

He remarked that startups are transitioning into unicorns, and existing unicorns are initiating IPOs and generating numerous jobs across the nation.

“I envision the future of a new and evolving India,” he stated, commending those who dared to dream.

Reflecting on the past decade, he mentioned the lack of opportunities for individual creativity and innovation.

“We confronted those challenges, launched Startup India, and provided the youth with boundless opportunities. Today, the outcomes are evident. This decade-long journey is not merely a tale of governmental success; it embodies the aspirations of countless individuals like you. It is a narrative of dreams materializing,” PM Modi expressed.

He acknowledged that startups were previously viewed as a risky venture, accessible primarily to the affluent.

However, the Startup India program has empowered youth from tier-2 and tier-3 cities, as well as rural areas, to aspire. This has facilitated inclusive growth.

“Women play a crucial role in the Startup India mission. Approximately 45 percent of recognized startups have at least one woman director or partner. India now has the second-largest global ecosystem for women-led startup funding,” the Prime Minister stated.

“In recent decades, we have made significant progress in digital startups and the service industry. Now is the moment for our startups to concentrate more on manufacturing. We need to innovate and produce products of the highest global quality.

“In the realm of technology, we must lead with unique ideas. The future hinges upon this. I assure you, the government will support you in every endeavor,” PM Modi concluded.