New Delhi, Jan 16: Prime Minister Narendra Modi on Friday called on Indian startups to focus on manufacturing, deep technology, and global leadership, saying the next decade of Startup India must position the country at the forefront of innovation.
Speaking at Bharat Mandapam on the 10th anniversary of Startup India, PM Modi said startups were key to shaping India’s economic and technological future.
He hailed Startup India as a “revolution” that had transformed India into the world’s third-largest startup ecosystem, growing from fewer than 500 startups in 2014 to over 2 lakh today, including nearly 125 unicorns.
The PM emphasised that risk-taking had become mainstream, and startups were increasingly driving employment, innovation, and global competitiveness.
“The government is with you in all your efforts. I have faith in your capabilities. Your courage, confidence, and innovation are shaping India’s future,” he said.
“The last 10 years have proven India’s entrepreneurial capabilities,” PM Modi said. “Our goal should be to lead the world in the next 10 years in India’s new startup trends and technologies.”
Launched on January 16, 2016, Startup India aims to nurture innovation, promote entrepreneurship, and create a generation of job creators, enabling India to build a robust ecosystem of over 2 lakh startups across sectors and geographies.
The PM said the mission had grown into a revolution, and the tally of unicorns jumped from four to 125 during the period.
Outlining a slew of government measures to boost Artificial Intelligence, he said the more a nation leads in AI innovation, the greater its advantage.
“We need to work on new ideas. Today, many such domains are emerging, which will play an important role in economic security and strategic autonomy in the future. An example of AI is in front of us. The more the nation is ahead in the AI revolution, the higher the advantage it will have,” PM Modi said.
He said that the IndiaAI mission had onboarded more than 38,000 GPUs to address the challenge of high computing cost related to AI development.
“We are also making sure that Indigenous AI should be developed by Indian talents on Indian servers. Similar efforts are being made in semiconductors, data centres, green hydrogen and many other sectors. Friends, as we move forward, our ambition should not only be partnership. We have to aim for global leadership,” the PM said.
He asked startups to work on new ideas and solve problems.
“In the past decade, we have done great work in the digital startup and service sector. Now is the time for our startups to focus more on manufacturing. We have to make new products. We have to make products of the best quality in the world,” PM Modi said.
He said while new heights would be reached through hardwork, efforts also need to be supplemented with courage and risk-taking ability.
The PM said, earlier, risk-taking was discouraged in the country, but it has become mainstream now, and those who think beyond their monthly salary are not only accepted, but also respected.
“I have always emphasised risk-taking because it is an old habit of mine. The work that no one is ready to do, the work that the previous decade-old governments did not touch, because they were afraid of losing the elections,” he said.
PM Modi said he used to take upon the task that others used to avoid as they were perceived to have high political risk.
“I do those things as my responsibility for sure. Like you, I also believe that the work that is necessary for the country, someone has to do it. Someone has to take the risk. If there is a loss, it will be mine. If there is a gain, it will benefit millions of families in my country,” he said.
The PM said that Startup India had fostered a new national culture, democratising entrepreneurship and bringing business aspirations to those living in smaller cities, towns, and rural villages.
“First, new businesses and new ventures were only brought by children from rich families. Because they were the ones who got funding and support easily. Most of the middle class and poor children were only able to dream of a job. But Startup India has changed this thinking. Now Tier 2 and Tier 3 cities and even villages are launching their startups,” he said.
PM Modi said that daughters had been instrumental in reshaping the culture of innovation and startups.
“Today, more than 45 percent of the recognised startups have a female director or partner. In the case of women-led startup funding, India has become the second-largest ecosystem in the world,” he said.
At the programme marking a decade of the Startup India initiative, the PM also interacted with founders of India’s vibrant startup ecosystem.
He said that in defence manufacturing, startups could not even imagine competing with established players earlier, but through iDEX, new procurement pathways had been opened in strategic sectors.
“The space sector, once closed to private participation, has now been opened, with nearly 200 startups working in this field and gaining global recognition,” PM Modi said.
He also made a mention of the drone sector, where outdated rules had long held India back, but reforms and trust in innovators changed the landscape completely.
