NewsIndiaModi highlights overwhelming favor for startups in India

Modi highlights overwhelming favor for startups in India

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New Delhi (India): Prime Minister Narendra Modi on Saturday said that a change has come in thinking about startups as people who used to ask “why don’t you do a job?” are now asking “why not create a startup?”

“Earlier, on hearing about a startup people used to ask ‘Why don’t you do a job? Why a startup?’ But now people say the job is all right, but why not create your own startup? The first reaction after seeing the people who are in the startup is that–wow you have a startup. This change in thinking is a big strength for BIMSTEC nations,” PM Modi said at the Prarambh: Startup India International Summit.

PM Modi interacted with entrepreneurs from across the country and officials from the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC), an international organization of seven nations of South Asia and Southeast Asia.

“You all are examples of great youth energy, hopes, and aspirations. Today is a big day. For the first time, the summit on startup is being held by BIMSREC nations today. Startup India is completing five years today and India has started the largest coronavirus vaccination drive in the world. It is the day of the dedication of our scientists and entrepreneurs,” he said while addressing the attendees.

“Today, our youth and entrepreneurs from BIMSTEC countries are joining this summit and sharing the experiences that we all have, from the fight against coronavirus to the making of the vaccine. So this summit becomes even more important,” he added.

PM Modi termed the current century is the century of the digital revolution and new-age innovation.

“This century is also called the century of Asia. Therefore, it is the need of the hour that the technologies of the future come out of the lab of Asia and the entrepreneurs of the future should be prepared from us,” he said.

“Startups have great power to change the future. You all have an enormous amount of energy and you are inspiring people to create a startup,” he added.

The Prarambh: Startup India International Summit was organized by the Department for Promotion of Industry and Internal Trade of the Ministry of Commerce and Industry on January 15-16.

Today was the second and final day of the summit that aims to reimagine the importance of collaboration between countries to further startup ecosystems.

The summit was yesterday inaugurated by Piyush Goyal, Minister of Commerce and Industry.

A closed-door roundtable was also hosted with emphasis on internationalization for startups and mobilizing global capital for Indian startups while promoting ease of doing business for global venture funds. 

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