Madhya Pradesh Startup Policy: Prime Minister targeting the previous governments of Congress. Narendra Modi on Friday said that the atmosphere created by the Information Technology (IT) revolution in the country during the 1990s could not be cashed in and due to big scams, policy paralysis and nepotism, a whole lot of youth was left behind. The dreams of the generation were ruined.
He also said that the number of recognized startups in the country has increased from 300-400 to nearly 70,000 during the last eight years due to the efforts made by his government with clear goals and a well thought out strategy in the direction set by him. Within eight to 10 days, a startup is turning into a “unicorn”, that is, the company’s valuation is crossing the Rs 7,000 crore mark.
How many startups are there in India now?
Modi said these things while addressing the new entrepreneurs during the formal launch of Madhya Pradesh government’s new startup policy and its implementation plan through video conference. He said that when our government came in 2014, the number of startups in the country was limited to 300-400 and startups were not even discussed in other areas except in the technical corridors of the industry. But after a short span of eight years, today there are about 70,000 government recognized startups in the country and our country has become the third largest startup ecosystem in the world.
Modi said that the youth of India has always had the urge to solve problems with innovative ideas and we experienced this even in the early stages of the country’s IT revolution. But it is unfortunate that our youth were not given the necessary encouragement and support (by the government) during that period. Pointing clearly to the 1990s, he said that the environment created by the IT revolution in the country needed to be given the right direction, but it could not happen.
India’s startup got entangled due to lack of policies
The Prime Minister said that we have seen that an entire decade has been lost to big scams, policy paralysis and nepotism, which ruined the dreams of an entire generation, even when our youth had innovative ideas at that time. But these ideas got entangled in the absence of proper policies during the tenure of the earlier governments.
Modi said his government has changed the mindset of youth for innovation through policy impetus, infrastructure development and simplification of government processes, making startups today a part of everyday conversations of common people and fulfilling the dreams of ordinary Indian youth. have become a powerful medium.
New enterprises are constantly emerging
Underlining the rapid expansion of startups to small towns and cities of the country, the Prime Minister said that existing startups are associated with more than 50 industries and new ventures are constantly emerging in the fields of agriculture, retail and health.