Union Home Minister Amit Shah on Tuesday said India's ranking on the Global Innovation Index has gone up from 91 to 38 in the last decade, and expressed confidence that it would secure a position among the top 10 in the next three years.
Speaking at the Gujarat government's Startup Conclave, Shah said the 'Startup India' campaign has transformed the nation's youth from "job seekers" into "job creators." He underscored that India now has the world's third-largest startup ecosystem, with the number of registered startups jumping from just 500 in 2014 to 1.92 lakh now. He added that the number of unicorns has also grown significantly, from four to 120, with a combined market value of over USD 350 million. The ecosystem has so far employed 17.90 lakh people, with 52 per cent of startups now located in tier-II and tier-III cities and 48 per cent of them initiated by women.
Shah explained that this growth has been made possible by comprehensive financial, infrastructural, and policy support from the government since 2014. He mentioned the creation of a ₹10,000 crore 'fund of funds', an increase in the maximum loan limit for startups to ₹20 crore, and various tax concessions. He also urged industry leaders to invest in the sector, noting that one of them could one day become a unicorn.
Shah further said that for the last four years, Gujarat has been leading the country in the startup sector. Chief Minister Bhupendra Patel and his team of ministers and government officials have jointly made Gujarat the centre of the startup revolution. There are 16,000 startups are in Gujarat. Ahmedabad city alone is in the top-4 cities with 6,650 startups. Gujarat has become the best performing state in the startup sector for four consecutive years, he said.
Also read: Gujarat HC gives bail to AAP MLA Vasava in attempt to murder case
Follow us
