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PM Modi Pegs Startups as Backbone of New India, Declares Jan 16 as National Startup Day


PM Modi Interacts With Startups: Prime Minister Narendra Modi on Saturday interacted with over 150 startups across different sectors. The Prime Minister, during his interaction via video conferencing, said that startups are going to be the backbone of new India. He added that from now on, January 16 is going to be celebrated as National Startup Day.

“Our startups are changing the rules of the game. I believe that startups are going to be the backbone of India,” said the Prime Minister during his speech.

“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,” he said.

Modi said that the government is making big changes in policies regarding startups. “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,” Prasar Bharati quoted the PM as saying.

He also asked the startups to approach the semi-urban and rural areas to launch new projects, saying that these areas are booming at present. “I urge startups to work towards building rural India. It will not only come with challenges but also huge potential,” he said.

“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,” the Prime Minister added, according to a tweet by news agency ANI. He said that the government will help all innovators in taking India ahead in the global scenario.

“Make your dreams global, don’t keep them local. Let us innovate for India, from India,” he told the participants during the interaction.

The Prime Minister lauded the growth of the startup sector in India over the past few years. “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,” Modi was quoted by Prasar Bharati as saying.

“Last year India created 42 unicorns! I firmly believe that the golden period of startups is just beginning,” he said.

“The campaign that is going on in India regarding innovation has the effect that India’s ranking in the Global Innovation Index has also improved a lot. In 2015, India was at number 81 in this ranking. Now India is at number 46 in the Innovation Index,” said Modi, who was quoted by Prasar Bharati in a tweet.

The interaction was part of the ‘Celebrating Innovation Ecosystem’ event, the Prime Minister’s Office had notified earlier. Hosted by the the DPIIT, a wing of Ministry of Commerce and Industry, this event marks the sixth anniversary of the launch of the Startup India initiative.

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