PM Modi declares January 16 as National Startup Day

Prime Minister Narendra Modi declared January 16 as National Startup Day on  Saturday, January 15. He said ,”I  congratulate all the start-ups , all the youth, who are raising the flag of India in the world of startups”.

PM Modi on Saturday interacted with more than 150 startups through video conferencing. He said ,”Our startups are changing the rules of the game. I believe that startups are going to be the backbone of India .” He adds ,”I congratulate all the start-ups, all the youth, who are raising the flag of India in the world of startups to reach the far-flung parts of the country. It has been decided that January 16 is going to be observed as National Startup Day.”

He added in his speech ,”This decade is considered to be ‘Techade’ of India. To advocate institutional mechanism to promote innovation and enterpreneurship .Government will help innovators in taking India ahead globally.”

PM Modi acknowledged 42 startups turned unicorns valuing more than $1 billion in 2021.He says that India did not even have 500 startups five years ago but today, there are around 60,000 start-ups. He says ,”Rural and semi-urban areas will see the next wave of expansion.”

Modi said in his speech that India’s ranking is now 46 in Global Innovation Index. However ,in 2015 , India’s ranking was 81.He said that easier funding along with compliance of nine labour and three environment laws is ensuring the growth of startups.

Modi praises innovators,” Country’s innovators are making India proud globally.”