Prime Minister Narendra Modi delivered a powerful message to Indian entrepreneurs on Friday. Speaking at the 10th anniversary celebration of the Startup India initiative, he urged startups to pivot their focus toward manufacturing and advanced technology over the coming ten years. The Prime Minister emphasized that this strategic shift would help homegrown companies create more jobs within India and integrate into global value chains.
A Decade of Growth and a New Direction
Modi reflected on the remarkable journey of Startup India, which he described as a "revolution". He highlighted how India's startup ecosystem has transformed from fewer than 500 startups in 2014 to over two lakh today. This growth includes nearly 125 unicorn companies, positioning India as the world's third-largest startup hub.
"Now, it is time for our startups to focus more on manufacturing," Modi stated clearly. He encouraged entrepreneurs to work on fresh ideas and solve pressing problems. The Prime Minister set an ambitious goal for the nation. "We have to make new products of the best quality in the world. Our goal should be that in the next 10 years, India leads the world in new startup trends and technologies," he declared.
Strategic Push in Key Sectors
The Prime Minister's call comes amid a significant global push for artificial intelligence and other cutting-edge technologies. He noted that countries leading in AI innovation would gain a crucial strategic advantage. To support this, the government's IndiaAI Mission has already onboarded more than 38,000 GPUs. This move aims to reduce the high computing costs that often hinder innovation.
Modi also detailed efforts to promote indigenous AI developed on Indian servers. The government is actively supporting sectors like semiconductors, data centers, and green hydrogen. He pointed to defense and space technology as areas now open to new players, citing the drone sector as a prime example. Regulatory reforms and increased trust in innovators have completely transformed the landscape for drone technology in India.
Government Support and Funding Initiatives
Expressing strong confidence in the "courage, confidence and innovation" of Indian entrepreneurs, the Prime Minister assured them of continued government support. He outlined several financial initiatives designed to bolster the startup ecosystem.
- The government has invested Rs 25,000 crore through schemes like the Startup India Seed Fund, Space Seed Fund, and NIDHI Seed Support Programme. These funds directly address capital constraints faced by early-stage companies.
- A massive Rs 1 lakh crore research, development, and innovation scheme has been launched. This fund specifically targets sunrise sectors and deep-tech industries.
Modi personally emphasized his commitment to risk-taking in governance. "The work that no one is ready to do, and which previous governments avoided, I take up as my responsibility," he said. "If there is a loss, it will be mine. If there is a gain, it will benefit millions of families in my country."
Celebrating Diversity and Women Entrepreneurs
The Prime Minister also took time to commend the growing role of women in India's startup story. He revealed that over 45% of Indian startups now have a female director or partner. "In women-led startup funding, India is the second-largest ecosystem in the world," Modi announced with pride.
This comprehensive address sets a clear roadmap for the next phase of India's entrepreneurial journey. By combining a focus on hardware manufacturing with software and technology leadership, the government aims to position Indian startups as dominant global players.
