Union Minister for Commerce and Industry, Consumer Affairs, Food & Public Distribution and Textiles, Piyush Goyal said said that there must be a global effort to nurture inclusive, supportive and sustainable startup ecosystems in all parts of the world to address global challenges. He was addressing the ‘Startup20 Shikhar’ at Gurugram, Haryana. He added that India’s economic scale and market potential have played a pivotal role in enabling startups to flourish and thrive in the global startup ecosystem.
The Minister lauded the Startup20 Engagement Group and said that this engagement of diverse experiences and knowledge is aimed to foster collaboration and bridge gaps between countries. He expressed hope that participants, both local and international, will leave with valuable memories, learnings, and connections to further nurture their own startup journeys and contribute to the growth of the entrepreneurial community in their respective nations.
He said that over the last seven years, India’s 100,000 registered startups, including more than 100 unicorns, have made significant contributions to various sectors such as health, finance and agriculture and generated employment opportunities and given a spur to innovation.
Goyal said that it is not just the role of individual nations but the collective responsibility of all nations to support innovation and the startup ecosystem. Highlighting the importance of the discussions on startups in the G20, the Minister said that the focus has to be on facilitating exchange of ideas, best practices and funding mechanisms and promoting collaborations in Research and Development.
Goyal further highlighted that Gurugram, known as an economic powerhouse in Haryana, showcases the dynamic landscape of India’s startup ecosystem with over 100 Fortune 500 companies, leading tech firms and numerous startups.