KNO Monitoring Desk
Gandhi Nagar, Sep 23 (KNO): Asserting that youth and startup ecosystems are the backbone of Prime Minister Narendra Modi’s vision of New India, Union Home Minister Amit Shah on Wednesday said that during his 11-year tenure the Prime Minister has fulfilled the dream of transforming Indian youth from job seekers to job providers.
Addressing the inaugural session of the Startup Conclave 2025 here the Union Home Minister, according to the news agency—Kashmir News Observer (KNO) said, “Before 2014, Indian youth had to leave the country to innovate, conduct research, or implement their ideas in the startup sector. In 2000, there was no concept of startups, systems, or ecosystems in India.”
He said, “By 2014, there were fewer than 500 startups, and dreaming of startups was only feasible for children from affluent backgrounds.” He emphasized that over the past ten years, PM Modi launched Startup India in 2016, and today, India has become the fastest-growing country in building a world-class startup ecosystem.
Shah said that through Startup India, PM Modi has fulfilled the dream of transforming Indian youth from job seekers to job creators.
He has elevated startups beyond mere profit-making entities, making them a significant tool for self-reliance. The startup ecosystem has become a platform to address many of the country’s challenges, accelerate innovation, and provide opportunities for youth creativity.
Amit Shah said that in the eight years from 2016 to 2024, India has become the world’s third-largest startup ecosystem. Furthermore, over the past ten years, India has also emerged as the third-largest digital ecosystem, empowering the startup ecosystem. The digital ecosystem rapidly brings the ideas, vision, and courage of the youth to the forefront of the nation and the world.
He said that in 2015, India’s ranking in the Global Innovation Index was 91st, and today it has reached 38th. The Home Minister expressed confidence that within the next three years, India will rank among the top ten countries in the Global Innovation Index and, in the coming years, will lead global innovation.
NEW EDUCATION POLICY OPENED TREASURE TROVE FOR INDIA’S YOUTH
Shah said that Prime Minister Modi, through the New Education Policy, has created a vertical for research and study on the Indian Knowledge System, opening this treasure trove for India’s youth. By leveraging this knowledge, young Indians can conduct world-class research.
The Union Home Minister said that in the 11 years of the PM Modi led government, significant transformations have been witnessed in the country, with efforts made in every sector to expand the startup ecosystem.
The credit for this expansion goes to the ecosystem created by Prime Minister Modi, as well as to students and youth. He highlighted that the number of startups has grown from 500 in 2014 to 1.92 lakh today, a 380-fold increase. Similarly, the number of unicorn startups has risen from just 4 in 2014 to over 120 today, with a total valuation exceeding $350 billion. Shri Shah emphasized that this demonstrates how, by leveraging the ecosystem created by Prime Minister Modi, talent can be harnessed to create unicorn startups. He urged industry stakeholders to collaborate with startups to expand in every dimension.
STARTUP ECOSYSTEM HAS PROVIDED SUSTAINABLE EMPLOYMENT TO 17.9 LAKH PEOPLE
Amit Shah said that India currently has 21,000 startups in the IT sector and 17,000 in healthcare. Moreover, there are 11,000 startups each in agriculture, the service sector, and education. He added that startups have expanded their reach to 770 districts in India, showcasing the strength of India’s startup ecosystem. Furthermore, 48% of startups are founded by women, and 900 startups in the Northeast are led by women. Shah stated that the startup ecosystem has provided sustainable employment to 17.9 lakh people so far.
Union Home Minister and Minister of Cooperation said that since 2014, Prime Minister Narendra Modi has created a supporting environment for startups and provided financial, policy, infrastructure, banking, and industry support for their growth. He said that a Fund of Funds of ₹10,000 crore has been established, a Startup India Seed Fund with a corpus of ₹945 crore has been launched, the maximum loan limit has been increased from ₹10 crore to ₹20 crore, support of up to ₹20 lakh has been approved for Proof of Concept, and funding of up to ₹50 lakh has been approved for prototype development. He further said that Prime Minister Modi launched Make in India, introduced PLI schemes in 14 key sectors, removed over 40,000 compliances, and removed more than 3400 laws from the category of criminal laws.
APART FROM PM MODI NO ONE ELSE COULD HAVE SIMPLIFIED, REFORMED GST
Amit Shah said that apart from Prime Minister Narendra Modi, no one else could have simplified and reformed GST. After a long time, the country has seen a leader like Prime Minister Modi in whom both taxpayers and the public can place their trust.
He noted that Prime Minister Modi, with great courage and by taking all states along, successfully implemented GST.
GST collections began at ₹80,000 crore and today have crossed over ₹2 lakh crore.
Shah added that under GST reforms, Prime Minister Modi reduced the prices of many items by half, by one-third, and even to zero in some cases. Through GST reforms, Prime Minister Modi has shown the public that the government’s purpose is to raise revenue to run the country, not to exploit the people.
Union Home Minister and Minister of Cooperation said that since India’s independence, the public is witnessing such a massive tax reduction for the first time. He stated that GST reform is a bridge of trust between taxpayers and the government.
Shah recalled that when the Modi government came to power, income up to ₹2.5 lakh was tax-exempt, but today income up to ₹12 lakh is taxed at zero.
These two examples, he said, demonstrate that the government levies taxes not for exploitation, but for the people, for the country’s development, and for self-reliance. Shri Shah said that his move will serve as a bridge of trust between taxpayers and the Government of India for decades to come.
STARTUP CONCLAVE 2025 WILL DELIBERATE ON PM MODI’S MISSION TO ESTABLISH INDIA’S IDENTITY IN STARTUP WORLD
Referring to the objective of the Startup Conclave 2025, Shah said, “It will deliberate on all aspects of Prime Minister Modi’s mission to establish India’s identity in the startup world and find solutions to challenges.”
Pertinently the conclave has been organized on the theme of three mantras: innovate, elevate, and accelerate.
Shah said that over two days, discussions will be held in seven sessions on various topics, providing a significant platform to connect emerging startups with investors and realize Prime Minister Modi’s mantra of "mind to market."
He highlighted that the compilation of the Indian Knowledge System was also launched during the event. “This system encompasses the finest knowledge from around the world in fields such as Ayurveda, classical arts, architecture, mathematics, philosophy, science, space, and the environment.”—(KNO)