Indian startups created value, wealth even during pandemic: PM

Modi also pointed out that the average annual growth rate of Indian unicorns is more than those of the USA, UK, and many other countries.

AgenciesUpdated: Sunday, May 29, 2022, 06:37 PM IST
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In his monthly 'Mann ki Baat' radio broadcast, the prime minister said that on the fifth of this month the number of unicorns in India reached the 100-mark. AFP PHOTO / STR |

Noting that the number of unicorns in India has reached the 100-mark this month, Prime Minister Narendra Modi on Sunday said that even in the phase of the COVID pandemic, Indian startups have been creating wealth and value with entrepreneurs emerging from smaller cities and towns as well.

Indian unicorns reach 100-mark

In his monthly 'Mann ki Baat' radio broadcast, the prime minister said that on the fifth of this month the number of unicorns in India reached the 100-mark. ''The total valuation of these unicorns is more than $330 billion, that is, more than 25 lakh crore rupees. Certainly, this is a matter of pride for every Indian,'' he said.

''You will also be surprised to know that out of our total unicorns, 44 came up last year. Not only that, 14 more unicorns were formed anew in 3-4 months this year. This means that even in this phase of the global pandemic, our startups have been creating wealth and value,'' he said.

Average annual growth rate of unicorns higher than UK, US

Modi also pointed out that the average annual growth rate of Indian unicorns is more than those of the USA, UK, and many other countries. Analysts also say that in the coming years there will be a sharp spike in these numbers, he added.

Noting that the unicorns are diversifying, Modi said they are operating in many fields like E-commerce, Fin-Tech, Ed-Tech, and Bio-Tech. ''Another thing which I consider more important is that the world of startups is reflecting the spirit of New India. Today, India's startup ecosystem is not limited to just big cities; entrepreneurs are emerging from smaller cities and towns as well. This shows that in India, the one who has an innovative idea, can create wealth,'' he said.

Importance of mentoring

Modi also stressed the importance of the right mentoring when it comes to the world of startups.

''A good mentor can take a startup to new heights…can guide the founders in every way toward the right decision. I am proud that many such mentors in India have dedicated themselves to promoting startups,'' he said.

''It is a matter of great happiness for us that today a complete support system is evolving in the country for startups. I am sure that in the times to come, we will get to see a new flight of progress in the startup world of India,'' the prime minister said.

In his broadcast, Modi also said that India is a rich treasure house of many languages, scripts, and dialects. ''Varied attire, cuisine, and culture in different regions is our hallmark. As a nation this diversity strengthens us and keeps us united,'' he said.

Highlighting examples of diversity, Modi narrated the journey of Kalpana, who has recently passed her class 10th examination in Karnataka.

The very special thing about Kalpana's success is that she did not know the Kannada language till some time ago but she not only learned it in three months but also proved it by scoring 92 marks.

He also cited the example of Shripati Tudu, who hails from Purulia in West Bengal and is a professor of the Santhali language at the Sidho-Kaano-Birsa University, Purulia. Tudu has prepared a version of the country's Constitution in his native 'Ol Chiki' script for the Santhali community, the prime minister narrated. ''This is a living example of the spirit of 'Ek Bharat Shrestha Bharat'. You will also find information about many such efforts furthering this spirit, on the website of 'Ek Bharat-Shreshtha Bharat','' he said.

International Yoga day on June 21

Modi also noted that on June 21, the 8th 'International Yoga Day would be marked across the globe. ''This time the theme of 'Yoga Day' is - Yoga for Humanity. I would urge all of you to celebrate 'Yoga Day' with great enthusiasm...Also, take precautions related to corona. By the way, the situation now is looking better than earlier across the whole world. On account of more and more vaccination coverage, people now are going out more than ever; therefore, a lot of preparations are also being seen all over the world for 'Yoga Day,'' he said.

''The corona pandemic has made all of us realize the overarching importance of health in our lives and Yoga is a great medium in ensuring the same. People are experiencing how much physical, spiritual, and intellectual well-being is receiving a boost through yoga,'' he said.

(With PTI inputs)

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