Number of startups increased 300 times in 9 years under PM Modi: Union minister

UDHAMPUR: The number of startups grew 300 times in the last nine years under Prime Minister Narendra Modi-led government in the country, Union Minister Jitendra Singh said on Saturday.

The Minister of State in the Prime Minister's Office (PMO) was speaking at a two-day 'Young Start-up Conclave' which commenced in Udhampur, the home constituency of Singh.

"The startups in India grew 300 times in the last 9 years as from just around 350 startups before 2014, there has been a quantum jump in startups to more than 90,000 with more than 100 unicorns," Singh said.

He said the startup movement promoted by Modi is now reaching every part of the country.

Asserting that the conclave at Udhampur offers an opportunity to explore new avenues for industry as well as entrepreneurs in the region, he said, under Modi, Jammu and Kashmir is given the top most priority in everything which is the reason J&K is competing in terms of development with other states and Union Territories in the country.

"The year 2023 is important for many reasons as this is the year India has been able to attain G20 Presidency. This year is being celebrated as International year of Millets by UN due to the efforts of Modi which shows how the stature of India has grown in the world under the present government," the minister said.

Singh said India had no dearth of talent, capability, innovation and creativity among the youth, but they were lacking a favourable milieu and proper patronage from the political leadership which was provided by the prime minister.

"Focus of the Modi-led government in the last 9 years has not been just to create employment but also to build entrepreneurship," he said.

He said the mantra of the prime minister's 'StartUp India, StandUp India' is creating millions of job opportunities for the youth who are gradually coming out of the government job mindset and are ready to take the plunge and create new opportunities in niche sectors, in turn creating scores of job opportunities.

Director CSIR-IIIM Jammu, Zabeer Ahmad termed this day as historic for Udhampur which has been chosen for this two-day event.

People of Udhampur and other districts must visit this 'Start-up Conclave' so that they can be "informed, counselled about the benefits of startups which are the engines of economic growth", he added.