Startup Has Become A Social Culture And No One Can Stop It: PM Modi While addressing Startup Mahakumbh at Delhi's Bharat Mandapam, PM Modi also commended the youth of the country for choosing the path of becoming a job creator rather than a job seeker

Expressing satisfaction over the growth of the startup ecosystem in the country, PM Narendra Modi on Wednesday said that "startup has become a social culture and no one can stop a social culture". He also recalled the initial reluctance and indifference towards the concept of startup in society, and said that "Innovative ideas found a platform over a period of time under Startup India."

PM Modi made these statements while addressing the Startup Mahakumbh at Bharat Mandapan in Delhi. The three-day event started on March 18. At the event, PM also acknowledged the presence of investors, incubators, academicians, researchers, industry members, and present and future entrepreneurs and said, "This is indeed a Mahakumbh in its truest form creating an unprecedented energy and vibe."

On this occasion, the PM also walked through the exhibition showcased and said, "Any Indian visiting the Start-up Mahakumbh will witness the unicorns and decacorns of the future."

He said that the startup revolution is being led by small cities and that too in a wide range of sectors including agriculture, textiles, medicine, transport, space, yoga and ayurveda. Elaborating on space startups, the Prime Minister said that Indian startups are working in more than 50 areas in the space sector, including the launch of the space shuttle.

Startups will play a pivotal role in making India the 3rd largest global economy. pic.twitter.com/kpcMXXo5cx

— Narendra Modi (@narendramodi) March 20, 2024

He also commented on the changing mindset about startups, and the fact that startups have changed the psyche that a lot of money is needed to start a business. He commended the youth of the country for choosing the path of becoming a job creator rather than a job seeker. "India is the third largest startup ecosystem with 1.25 lakh startups involving 12 lakh youth who are directly linked with them", he said.

The PM also asked the entrepreneurs to be vigilant about filing their patents quickly, and talked about GeM portal that has provided more than INR 20,000 crore rupees to businesses and startups. "The start-ups launched on the policy platforms are reaching new heights today."

Besides this, he also underlined the impetus provided by Digital India to start-ups, and said that it is a huge inspiration and suggested colleges take it up as a case study. He also credited UPI for becoming a pillar of support for the fintech start-ups which lead the development of innovative products and services for the expansion of digital services in the country.

Talking about Aritifical Intelligence (AI), PM said India has upper hand in AI and underlined the numerous opportunities being created for both young innovators and global investors with the advent of the AI industry and mentioned the National Quantum Mission, India AI Mission and Semiconductor Mission. He recalled discussing AI during his address at the US Senate a while ago and assured that India will continue to be a leader in this sector.

"I believe that Indian solutions for global applications will become a helping hand for many nations in the world", the PM said.

The Prime Minister acknowledged the global desire to learn from Indian youth through hackathons etc. Solutions tested in Indian conditions have global acceptance, he said. He mentioned the National Research Foundation and INR 1 lakh crore fund for research and planning for the needs of the future in the sunrise sector areas.

Besides praising startups, PM also urged them to give back to society by supporting individuals and institutions to come up in the startup sector. He asked them to visit incubation centers, schools and colleges and share their insights with the students.

Concluding the address, the Prime Minister said that interacting with the youngsters fills him with new energy as he conveyed his best wishes for the future. On this ocassion, PM Modi was joined by Union Minister for Commerce and Industry, Shri Piyush Goyal, Union Ministers of State Anupriya Patel, and Som Prakash.