PM: Growing startups reflection of new India

Indian startups have been creating wealth even during the Covid-19 pandemic, with new entrepreneurs emerging even from smaller cities and towns, Prime Minister Narendra Modi said in his monthly radio broadcast on Sunday, as he noted that the number of unicorns in the country reached 100 on May 5.

- Isha Sahai Bhatnagar

"The total valuation of these unicorns is more than $330 billion, that is, more than 25 lakh crore," Modi said in the Mann ki Baat programme. "Certainly, this is a matter of pride for every Indian." Unicorns are startups that are worth $1 billion or more.

"You will also be surprised to know that out of our total unicorns, 44 came up last year. In the 3-4 months this year, 14 more unicorns were formed," the Prime Minister said. "This means that even in this phase of the global pandemic, our startups have been creating wealth and value."

"Something I consider more significant is that the world of startups reflects the spirit of New India," he said. "Today, startups are not confined to metro cities, but entrepreneurs are also emerging from small cities and towns."