Startup Mahakumb: PM Modi asks industry leaders to encourage startups

Stand-up India Startups: As many as 45 per cent of startups in India are led by women entrepreneurs, while India's startups have me investments worth Rs 20,000 crore, said Prime Minister Narendra Modi. Speaking at “Startup Mahakumbh” event in national capital on Wednesday,  PM Modi said Rs 1 lakh crore fund announced for research and innovation in recent Union Interim Budget, will provide a boost to sunrise sectors. 

“India at present has startups across different sectors, from agriculture to telecommunications. space sector, which was once predominantly in government's control, now has over 50 startups. world is upbeat over capability of Indian youth. We have a firm belief and trust in capabilities of youth, so we decided to fuel ir aspirations,” said Modi.

PM reached out to industry captains for hand-holding startups.  "It is imminent that our industry captains work in collaboration and ensure that we have a healthy startup ecosystem. re is also a need for industry bodies to work closely to ensure to meet growth objectives, said Modi.

Startups not limited to metros 

PM said India has emerged as world's third largest startup ecosystem with over 1.25 lakh startups and 110 unicorns. PM Modi said India is charting a romap for becoming a developed nation with right decisions taken at right time. 

“India is at forefront of new-age technology. Our government has launched National Quantum Mission, AI Mission, and National Semiconductor Mission for youth to benefit,” said PM Modi. 

India at present, is witnessing presence of startups beyond metro cities, said PM Modi, ding that startup ecosystem has now become a social culture. PM said he was keen to make India world's third-largest economy in his third term, and reaffirmed that that startups will play a big role in India's progress.

PM me a fervent appeal to industry bodies such as CII and FICCI for hand-holding of young startups and help se early birds in research and development. PM referred to Artificial Intelligence (AI) as “America-India”, stating that new generation of technology is set to decide future of world. Modi said during his elaborate dress on AI in US Parliament was one of his first efforts to see India and US collaborate on AI. 

Youth as job providers

Highlighting a palpable change in people's mindset led by self-sufficiency in entrepreneurship, PM Modi said India's youth has chosen path of being job creator rar than job seeker.

Digital data protection has been a major thrust area, said PM Modi ding that every effort is being me to ensure that startup funds percolate right down to founders and benefit m.

“Innovation is being tried and tested aspect in India has a great scope and we have a conducive environment of research,” PM said in a lighter vein while referring to all experiment-oriented people in India. “Hundreds of thousands of rupees have been allocated for setting up National Innovation Mission. We aim to foster scientific temperament,” said Modi.