Mann Ki Baat: Startups created value, wealth even during pandemic, says PM Modi

Tribune News Service

New Delhi, May 29

Noting that the number of unicorn companies in India has reached the 100 mark this month, Prime Minister Narendra Modi today said even during the Covid pandemic, startups have been creating wealth and value with entrepreneurs emerging from smaller cities and towns as well.

He said their total valuation was more than 330 billion dollars (over Rs 25 lakh crore).

In his monthly “Mann Ki Baat” programme, the PM lauded the rapid growth of unicorns within startup framework and disclosed that the century figure crossed on May 5. While 14 of them came up this year, 44 were formed last year.

Unicorns are diversifying

The good thing is that our unicorns are diversifying and are operating in many fields such as e-commerce, Fintech and Edtech. The average annual growth rate of Indian unicorns is more than those of the US and the UK. —Narendra Modi, Prime Minister

“The good thing is that our unicorns are diversifying and are operating in many fields like e-commerce, Fintech, Edtech and Bio-Tech,” Modi said. Analysts opine that the trend will only deepen.

He noted that average annual growth rate of Indian unicorns was more than those of the US, the UK and many other countries which manifest the entrepreneurial spirit and living force of India’s youth.

He lauded women’s self-help groups for adding value to economy and also improving their own economic status and economic independence. He urged people to purchase their products.

He pitched for protection of environment, urging people to plant trees on the forthcoming Environment Day. He urged people to observe the coming International Yoga Day and make yogic exercises part of daily life.

He added that the importance of yoga, which fostered physical and mental well-being and inner strength, was realised during the Covid.

He said Indian’s culture, custom, tradition and history was appreciated in Japan, and Cambodia. Sharing the experiences of his visit to Japan, he said the epic “Ramayana” was dramatised and enacted there. The PM added the “self-for-society” culture inheres in Indian culture, while homed in on its virtues which needed to be strengthened.

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