Startup India is a revolution, says PM Modi at 10-year anniversary
Hailing Indian startups, Prime Minister Narendra Modi on Friday here exhorted them to focus on manufacturing, deep technology, and global leadership, saying the next decade of Startup India must position the country at the forefront of innovation.
Speaking at Bharat Mandapam on the 10th anniversary of Startup India, he said startups are key to shaping India’s
economic and technological future. The Prime Minister hailed Startup India as a “revolution” that has transformed India into the world’s third-largest startup ecosystem, growing from fewer than 500 startups in 2014 to over 2 lakh today, including nearly 125 unicorns.
He emphasised that risk-taking has become mainstream, and startups are increasingly driving employment, innovation, and global competitiveness.
“The government is with you in all your efforts. I have faith in your capabilities. Your courage, confidence and innovation are shaping India’s future,” he said. The last 10 years have proven India’s entrepreneurial capabilities, he said, adding, “Our goal should be to lead the world in the next 10 years in India’s new startup trends and technologies.”
Launched on January 16, 2016, Startup India aims to nurture innovation, promote entrepreneurship, and create a generation of job creators, enabling India to build a robust ecosystem of over 2 lakh startups across sectors and geographies. Modi said the mission has grown into a revolution and the tally of unicorns jumped from four to 125 during the period.
Outlining a slew of government measures to boost artificial intelligence, Modi said the more a nation leads in AI innovation, the greater is its advantage.
“We need to work on new ideas. Today, many such domains are emerging, which will play an important role in economic security and strategic autonomy in the future. An example of AI is in front of us. The more the nation will be ahead in the AI revolution, the higher the advantage it will have,” Modi said.He said that IndiaAI mission has onboarded more than 38,000 GPUs to address challenge of high computing cost related to the AI development.
“We are also making sure that Indigenous AI should be developed by Indian talents on Indian servers. Similar efforts are being made in semiconductors, data centers, green hydrogen and many other sectors. Friends, as we move forward, our ambition should not only be of partnership. We have to aim for global leadership,” Modi said.He asked startups to work on new ideas and solve problems. “In the past decade, we have done great work in the digital startup and service sector. Now is the time for our startups to focus more on manufacturing. We have to make new products. We have to make products of the best quality in the world,” Modi said.
The Prime Minister said while new heights will be reached through hard work, efforts also need to be supplemented with courage and risk-taking ability.He said, earlier, risk-taking was discouraged in the country, but it has become mainstream now, and those who think beyond their monthly salary are not only accepted, but also respected.“I have always emphasised risk-taking because it is an old habit of mine. The work that no one is ready to do, the work that the previous decade old governments did not touch, because they were afraid of losing the elections,” Modi said.
The PM said he used to take upon the task that others used to avoid as they were perceived to have high political risk.“I do those things as my responsibility for sure. Like you, I also believe that the work that is necessary for the country, someone has to do it. Someone has to take the risk. If there is a loss, it will be mine. If there is a gain, it will benefit millions of families in my country,” Modi said.
He noted that Startup India has fostered a new national culture, democratising entrepreneurship and bringing business aspirations to those living in smaller cities, towns, and rural villages.The Prime Minister shared that daughters have been instrumental in reshaping the culture of innovation and startups.“Today, more than 45 per cent of the recognised startups have a female director or partner. In the case of women-led startup funding, India has become the second largest ecosystem in the world,” he said.
At the programme marking a decade of the Startup India initiative, the PM also interacted with founders of India’s vibrant startup ecosystem.He pointed out that in defence manufacturing, startups could not even imagine competing with established players earlier, but through iDEX, new procurement pathways have been opened in strategic sectors. The space sector, once closed to private participation, has now been opened, with nearly 200 startups working in this field and gaining global recognition.The Prime Minister also made a mention of the drone sector, where outdated rules had long held India back, but reforms and trust in innovators changed the landscape completely.
