India leading way in world of start-ups, says PM Modi


New Delhi: Prime Minister Narendra Modi on Sunday hailed the progress of the start-ups across the country and said that in the era of start-ups, India is making a global footprint as the sector is getting record investment year after year.

Addressing the nation through the 83rd episode of his ‘Mann Ki Baat’ radio programme, the Prime Minister also mentioned that there are more than 70 ‘Unicorn’ start-ups in the nation.

A unicorn is a privately held start-up company valued at over USD 1 billion.

“In every country with a large youth population, three aspects matter a lot. Sometimes, it becomes the true identity of the youth. The first aspect is – ideas and innovation. The second is the spirit of taking risks and the third is the ‘Can Do’ spirit, that is, the determination to accomplish any task, no matter how adverse the circumstances be. When these three things combine, phenomenal results are produced, miracles happen,” PM Modi said.

“This is the era of start-ups and it is also true that today India is leading the way in the world of start-ups. Start-ups here are getting record investments year after year. This sector is progressing very fast,” he said.

“Till the year 2015, there used to be hardly nine or ten Unicorns in the country. In just 10 months, a unicorn is being raised in India every 10 days. This is also a big thing because our youth have achieved this success in the midst of the COVID. Today there are more than 70 Unicorns in India. That is, there are more than 70 start-ups that have crossed the valuation of more than USD 1 billion,” he added. (ANI)