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    India scores a century in startup field, unicorns reach 100-mark in May: PM Modi in Mann Ki Baat

    India scores a century in startup field, unicorns reach 100-mark in May: PM Modi in Mann Ki Baat

    India scores a century in startup field, unicorns reach 100-mark in May: PM Modi in Mann Ki Baat
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    By CNBCTV18.com  IST (Published)

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    Prime Minister Narendra Modi said out of the total unicorns, 44 came up in the last year, while 14 were formed in the last three to four months.

    Prime Minister Narendra Modi, while addressing the nation during the 89th episode of Mann Ki Baat on Sunday, said the number of unicorns in India had reached the 100-mark this month and their valuation was over Rs25 lakh crore.
    "You must be feeling happy on hearing of the century of a batsman of Team India on the cricket field. But, India has scored a century in another field and it is very special. On the 5th of this month, the number of unicorns in the country has reached the figure of 100 and you surely know that a unicorn is a start-up worth at least seven and a half thousand crore rupees. The total valuation of these Unicorns is more than 330 billion dollars, that is, more than 25 lakh crore rupees.
    He said the out of the total unicorns, 44 came up in last year, while 14 new ones were formed in the last three to four months. "This means that even in this phase of the global pandemic, our startups have been creating wealth and value," he said.
    He said the average annual growth rate of Indian Unicorns is more than those of the USA, UK and many other countries and analysts have said that there will be a sharp spike in these numbers in the coming years.
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    He also spoke about the diversification of unicorns in many fields such as e-commerce, fintech, edtech and biotech.
    He said the world of startups is reflecting the spirit of new India, but startups in India need good mentors and the right guidance that can take startups towards making the right decisions.
    "Another thing which I consider more important is that the world of startups is reflecting the spirit of New India. Today, India's startup ecosystem is not limited to just big cities; entrepreneurs are emerging from smaller cities and towns as well. This shows that in India, the one who has an innovative idea, can create wealth," he said.
    He named mentors such as Sridhar Vembu, Meera Shenoy, Madan Padaaki and said they had done great work in mentoring startups and entrepreneurs in rural India.
    "I have mentioned only a few names here, but today there is no dearth of mentors among us. It is a matter of great happiness for us that today a complete support system is evolving in the country for start-ups. I am sure that in the times to come, we will get to see a new flight of progress in the startup world of India," he said.
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