Startup India: Pointing to the success of startups in India, Prime Minister Narendra Modi noted that Indian youth is transforming from job-seekers to job creators.
Startup India: Pointing to the success of startups in India, Prime Minister Narendra Modi noted that Indian youth is transforming from job-seekers to job creators. Interacting with youngsters from across the country, Prime Minister Narendra Modi noted that India has a huge demographic dividend. “Startup India was instituted to provide strength to youth. In India, 65% of the population is below the age of 35. This is a India’s greatest strength,” he said while addressing student-innovators, tinkering labs, incubators and startups.
Noting the various pre-requisites for setting up a business, PM Modi said that capital, courage and connections are the three main requirements, and government has made efforts towards providing that under the Startup India programme. In his address, he also noted that a startup provides employment to 12 people on an average. “Today, one startup gives employment to 12 people. India is a big startup ecosystem in the world. This is due to policies of the government as well as the self-confidence and trust of people,” he said. Noting the emerging trends in the startup ecosystem across the country, PM Modi said that there has been a significant rise in agriculture and social startups.
“Previously we could see only digital and tech startups, now manufacturing and social sector too has startups,” he pointed out. PM Modi also noted the rise in entrepreneurs from Tier-2 and Tier-3 cities. “About 50% of the startups are from small towns and cities. People from villages and Tier-3 cities are also meaningfully contributing to the country,” he said. He also noted that women participation has increased under the Startup India programme.
Launched in August-2015, Startup India was intended with the aim of building a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. The Government through this initiative aims to empower Startups to grow through innovation and design.