Prime Minister Narendra Modi inaugurated the Start-up Mahakumbh at Bharat Mandapam, New Delhi, today, emphasizing India’s role as a global leader in innovation and entrepreneurship. In his address, PM Modi underscored India’s journey towards becoming a Viksit Bharat (Developed India) by 2047, noting the significant strides made in the IT and software sectors. He praised the innovative spirit of Indian startups and the ecosystem that supports them, including investors, incubators, academicians, and researchers.
‘This is indeed a Mahakumbh in its truest form creating an unprecedented energy and vibe,’ PM Modi remarked while touring the exhibition. He highlighted the transformation of startup culture into a social phenomenon, emphasizing the emergence of startups not only in traditional sectors but also in areas like agriculture, textiles, medicine, transport, space, yoga, and ayurveda.
PM Modi lauded the changing mindset towards startups, noting that they have debunked the myth that large capital is necessary to start a business. He commended the youth for choosing entrepreneurship and becoming job creators.
India’s startup ecosystem, he stated, now comprises 1.25 lakh startups engaging 12 lakh youth directly, making it the third-largest in the world. He urged entrepreneurs to swiftly file their patents and highlighted the Government e-Marketplace (GeM) portal’s contribution of over 20,000 crore rupees to businesses and startups.
Digital India’s role in supporting startups was emphasized, particularly through the Unified Payments Interface (UPI), which has revolutionized fintech startups and expanded digital services. PM Modi recalled the interest generated at the G20 Summit when UPI was showcased, illustrating its role in financial inclusion and technological democratization.
The Prime Minister expressed joy that 45 percent of startups in India are led by women, showcasing their prowess in sectors like education, agriculture, and health. He stressed the importance of fostering a culture of innovation not just for India but for humanity, highlighting initiatives like Startup-20 and India’s strength in Artificial Intelligence (AI).
PM Modi outlined opportunities in AI, mentioning the National Quantum Mission, India AI Mission, and Semiconductor Mission. He assured India’s continued leadership in AI, stating, ‘Indian solutions for global applications will become a helping hand for many nations in the world.’
Acknowledging the global interest in learning from Indian youth, PM mentioned the National Research Foundation and a 1 lakh crore fund for research in sunrise sectors. He urged start-ups to give back to society by sharing insights with students and supporting budding entrepreneurs.
PM commended India’s youth for propelling the country to the fifth-largest economy globally and envisioned start-ups playing a crucial role in achieving the goal of becoming the third-largest economy. He encouraged actionable points from the Mahakumbh and expressed optimism for the future.
