Union minister Jitendra Singh on Friday said India has witnessed a transformational rise in entrepreneurship with the number of startups growing to over two lakh, making the country the third-largest in the startup ecosystem.
"Today, the results speak for themselves. In just a few years, we have grown from 350–400 startups to more than two lakh, and India now ranks third in the world. This reflects how far we have come and how much we have achieved," Singh said while addressing a startup camp organised by the Indian Institute of Integrative Medicine in Jammu.
Singh said that this also points out that children had talent and the capacity to do things, but they were not channelised in a particular direction. Highlighting Doda as the birthplace of the purple revolution as part of the Startup India movement, the minister said the initiative has earned nationwide recognition and is now being celebrated across the country.
"From Uttarakhand and Himachal Pradesh to Arunachal Pradesh and as far as Nagaland, all Himalayan states are virtually part of this celebration," he said. Singh said the region has emerged as a new centre of entrepreneurship for the youth with agriculture at its core.
"For long, startups were believed to be synonymous only with IT, but agriculture is a vast and exclusive domain with immense potential. India’s 10,000-km-long coastline also offers enormous opportunities," he noted.
Referring to the Startup India and Standup India initiatives launched in 2014 by Prime Minister Narendra Modi, the minister said that it marked a turning point. "Before this, there was confusion. People asked what startup and standup actually meant. But once enabling support was provided, people surged ahead," he said.
Emphasising inclusive growth, Singh said that 45–50 per cent of startups are now coming from Tier-2 and Tier-3 cities, breaking the myth that innovation is confined to metros like Bengaluru, Mumbai or Hyderabad.
"Another misconception that has been shattered is that one needs a PhD to start up. Many successful startups are run by people who have not even completed graduation," he said.
Citing the lavender initiative as a model, he said its success was driven by on-the-spot distillation units, market linkages and access to markets as far as Mumbai. "The government is providing every kind of support -- technology, market and financial support," he added.
10 yrs on, let India lead in startup trends: PM Modi
Prime Minister Narendra Modi on Friday said India has full faith in the innovation and confidence of its startups, and added that the nation should lead globally in startup trends and technology in the coming decade. A nation that is forward-looking on Artificial Intelligence (AI) will have a competitive advantage, Modi said.
Speaking at a mega event marking a decade of the flagship programme “Startup India”, Modi asked the founders and entrepreneurs to work on new ideas and solve problems, all the while keeping a sharp focus on quality products. "Our goal should be that in the coming 10 years, India leads the world in new startup trends and technology," Modi said.
Also read: 6,385 recognised startups categorised as 'closed'
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