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India has emerged as the world's third largest startup ecosystem with over 1.25 lakh startups and 110 unicorns, and is charting a roadmap for becoming a developed nation with the right decisions taken at the right time, Prime Minister Narendra Modi said on March 20.
Speaking at the Startup Mahakumbh event, Mr. Modi said India's startup ecosystem is not limited to metro cities, it has now become a social culture.
Mr. Modi vowed that he would make India the world's third-largest economy in his third term, and asserted that startups will play a big role in India's progress.
The Startup India initiative gave a platform to innovative ideas, and connected entrepreneurs and ventures to funding, he said.
Prime Minister Narendra Modi with Union Minister Piyush Goyal arrives to inaugurate Startup Mahakumbh at the Bharat Mandapam. | Photo Credit: PTI
India's youth has chosen the path of being job creators rather than job seekers, Mr. Modi said, highlighting the changing mindset of people.
He said women are leading more than 45% of Indian startups. India has democratised technology, and therefore the 'haves and have-nots' theory can not work here.
The ₹1 lakh crore fund announced for research and innovation in interim budget will help the sunrise sectors, Mr. Modi said.
