NEW DELHI: Prime Minister Narendra Modi on Tuesday lauded India’s thriving startup ecosystem, highlighting its 1.25 lakh start-ups engaging 12 lakh youth. Emphasising the importance of prompt patent filing, he commended the GeM portal for disbursing over Rs 20,000 crore to businesses.
He said UPI becoming a pillar of support for the fin-tech start-ups will lead the development of innovative products and services for the expansion of digital services in the country. He recalled the huge queues of industry and world leaders at a booth that was set up in Bharat Mandapam during the G20 Summit explaining the working of UPI and offering a trial run,” the Government release said.
The PM while inaugurating the Start-up Mahakumbh at Bharat Mandapam, New Delhi, said this has strengthened financial inclusion and reduced the rural and urban divide, while also democratising technology.
He expressed delight that more than 45 percent of start-ups in the country are women-led, be it education, agriculture or health.
The Prime Minister underscored the significance of fostering an innovative culture for the benefit of humanity, beyond just “Viksit Bharat.” He highlighted India’s efforts through Startup-20 to offer a global platform for startups, recognizing them as key drivers of growth. Additionally, he touched upon India’s leading position in the field of artificial intelligence, emphasising the nation’s strengths in this crucial domain.
PM Modi said that the startup revolution is being led by small cities and that too in a wide range of sectors including agriculture, textiles, medicine, transport, space, yoga and ayurveda. He also mentioned that Indian startups are working in more than 50 areas in the space sector, including the launch of the space shuttle.