Tag : startups

    Indian startups created value, wealth even during pandemic: PM

    Preeti
    May29/ 2022

    New Delhi: 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. 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 USD 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. 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. Modi also stressed the importance of right mentoring when it comes to the world of startups. "A good mentor can take a sta ...

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