Union Minister Jitendra Singh on Sunday stated that India’s startup landscape has undergone a remarkable evolution under Prime Minister Narendra Modi’s leadership.
He highlighted a staggering growth, with the number of startups soaring from around 350 in 2014 to an impressive figure today, establishing India as the third-largest startup ecosystem globally. Singh underscored PM Modi’s significant efforts to redefine employment paradigms, emphasizing that opportunities extend far beyond traditional government jobs. This shift in mindset has paved the way for the emergence of new and lucrative avenues for livelihood, news agency PTI reported.
Singh also credited PM Modi for catalyzing advancements in India’s space research sector by liberalizing it from its previously conservative stance. He cited recent achievements such as the Chandrayaan-3 and Aditya L1 solar mission as evidence of India’s burgeoning prowess in space exploration. Furthermore, Singh noted a substantial increase in the number of space startups, which has surged from single to triple digits within just four years of opening up the sector to private participation.
Highlighting PM Modi’s innovative policies, Singh emphasized their transformative impact across various sectors including space, railways, roads, infrastructure, and electronics-communication, propelling India’s economy from the 11th to the 5th largest globally.
He expressed optimism that India is on the brink of ascending to the third position this year and projected further advancement under PM Modi’s leadership, envisioning India as the world’s third-largest economy during his third term, ultimately aiming for the top spot by 2047.
Singh expressed confidence in India’s readiness to achieve significant milestones in 2024, leveraging its scientific expertise and technological capabilities.
He emphasized the imperative of strategizing for sustainable growth, particularly in the context of India’s burgeoning startup ecosystem. Singh reiterated the government’s commitment to empowering the youth, referred to as the “Amrit-Peedhi,” recognizing them as key drivers of India’s future prosperity.
Ultimately, Singh conveyed a prevailing belief among citizens that India, under PM Modi’s leadership, has the potential to emerge as a global economic powerhouse, supported by the Prime Minister’s extensive outreach and the public’s confidence in his administration.
