Prime Minister Narendra Modi on Friday said that India’s youth is increasingly focused on solving real-world problems, as he marked a decade of the Startup India mission, describing the initiative as a transformative journey that has reshaped the country’s innovation and enterprise landscape. Addressing an event at Bharat Mandapam in New Delhi, the Prime Minister reflected on the growth of India’s startup ecosystem and its expanding global footprint over the past ten years.
The Prime Minister noted that the Startup India mission, launched a decade ago, has evolved from a policy initiative into what he described as a nationwide movement driven by innovation and enterprise. He said India’s startups are playing a key role in shaping a self-reliant and resilient economy, while also enhancing the country’s global image as a hub of entrepreneurship.
Highlighting the scale of growth, the Prime Minister said that India has emerged as the world’s third-largest startup ecosystem. He recalled that around a decade ago, the country had fewer than 500 startups, a number that has now risen to over 2,00,000. He also pointed out that India had only four unicorns in 2014, compared to more than 125 active unicorns today, a rise that has drawn international attention.
According to the Prime Minister, Indian startups are now operating across more than 50 sectors, including deep technology, space technology, drone technology, quantum technology, agritech, and artificial intelligence and machine learning. He said that several startups are scaling up to become unicorns, while existing unicorns are entering capital markets through initial public offerings, contributing to employment generation across the country.
Reflecting on the broader impact of the startup movement, the Prime Minister said the current ecosystem represents the future of a new and emerging India. He credited founders and innovators for showing the courage to dream and pursue new ideas, despite challenges that existed earlier.
Recalling the situation prior to the launch of Startup India, he said there was limited scope for individual effort and innovation, and entrepreneurship was often discouraged. He stated that the government sought to challenge those circumstances by launching Startup India and providing what he described as an open environment for young entrepreneurs to innovate. The results of that approach, he said, are now visible in the scale and diversity of startups across the country.
The Prime Minister also addressed the perception that startups were once seen as a risky path largely accessible to individuals from affluent backgrounds. He said the Startup India programme has enabled youth from tier-2 and tier-3 cities, as well as rural areas, to aspire and participate in entrepreneurship, contributing to more inclusive growth.
Women’s participation in the startup ecosystem was highlighted as a key outcome of the mission. The Prime Minister said that nearly 45 per cent of recognised startups now have at least one woman director or partner. He added that India has emerged as the second-largest global ecosystem for women-led startup funding.
Looking ahead, the Prime Minister said that while India has made significant progress in digital startups and the services sector, greater focus is now required on manufacturing. He emphasised the need for startups to create new products and to aim for global quality standards. He also underlined the importance of leadership in technology through unique and innovative ideas.
Assuring continued support, the Prime Minister said the government stands with entrepreneurs in their efforts, describing the decade-long journey of Startup India as not just the success of a government initiative, but the realisation of countless individual dreams across the country.
