PM Modi credited with India's start-up ecosystem boost

Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Piyush Goyal lauded the visionary and astute leadership of Prime Minister Narendra Modi over the last nine years which has turned India into the third largest StartUp ecosystem of the world.

In his keynote address at the valedictory session of the Annual E-Summit Consortium 2023 of Visvesvaraya National Institute of Technology (VNIT), Nagpur on April 2 through virtual mode, the Minister said, "India is respected and valued across the world as a centre of technology." He noted that as a nation, India has found its true respect in the comity of nations and the new Bharat is offering friendship and partnership to the world.

"India is moving relentlessly on the path of becoming the largest economy of the world while ensuring the growth is sustainable and inclusive," Goyal said.

"The efforts of the government have led to successful steering of India's economy, efficient handling of the COVID pandemic and laying of foundation blocks of an emerging superpower," he added.

The Minister also appreciated VNIT for bringing together different stakeholders like investors, entrepreneurs, venture capitalists, etc. on a common forum and encouraging startups and entrepreneurship in the region.

The Minister said, "Indian youth are demonstrating huge talents and capabilities across the world with Indians heading global companies. He said that the journey of Atmanirbhar Bharat is powered by technology and innovation which is helping the youth become job creators rather than job seekers."

He stated that over 90,000 startups registered with the Department for Promotion of Industry and Internal Trade (DPIIT) have created a million jobs directly and many more indirectly.

He appreciated the startups for providing solutions which are simple but highly effective for people & businesses; this improves the Ease of Doing Business and ease of living.

He said, "There is gender parity in startups as nearly half of the startups are having at least one Woman Director and women entrepreneurs are leading many successful startups."


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