PM Cheers Start-ups as Backbone of New India

Prime Minister Narendra Modi met with over 150 entrepreneurs from various industries. During their video conference, the Prime Minister stated that startups will be the backbone of the new India. He went on to say that January 16th will henceforth be known as National Startup Day.

During his speech, the Prime Minister stated, “our startups are changing the rules of the game. I believe that startups are going to be the backbone of India. I congratulate all the start-ups, all the youth, who are raising the flag of India in the world of start-ups. For this culture of start-ups to reach the far-flung parts of the country, it has been decided to celebrate January 16 as National Start-up Day.”

Modi stated that the government is implementing significant policy reforms in the area of startups. According to Prasar Bharati, Prime Minister Narendra Modi said, “the year 2022 has brought new horizons for the Indian startup ecosystem.
When India will complete 100 years of independence, startups will play a huge role."

He also encouraged companies to establish new ventures in semi-urban and rural areas, claiming that these areas are now thriving. He stated, “I urge startups to work towards building rural India. It will not only come with challenges but also huge potential.”

the Prime Minister added, “this decade is being called as ‘techade’ of India…to strengthen the innovation, entrepreneurship and start-up ecosystem have important aspects like liberating entrepreneurship, innovation from government processes, bureaucratic silos.” He stated that the government will assist all innovators in advancing India's position in the global marketplace.

During the interaction, he informed the participants, “make your dreams global, don’t keep them local. Let us innovate for India, from India."

The Prime Minister praised India's startup industry for its rapid rise in recent years. According to Prasar Bharati, Modi said, “there’s at least one startup in at least 625 districts across India. Nearly half of India’s all startups are in Tier-II or Tier-III cities. It shows that people from all classes are converting their ideas into businesses."

He underlined, “last year India created 42 unicorns! I firmly believe that the golden period of startups is just beginning.”

The meeting was part of the 'Celebrating Innovation Ecosystem' event, as announced by the Prime Minister's Office previously. This event, hosted by the DPIIT, a division of the Ministry of Commerce and Industry, commemorates the sixth anniversary of the Startup India initiative's start.