The industry linkage is imperative for sustaining start-ups, and can play a pivotal role in changing the mindset of the youth, Union Minister Jitendra Singh on Tuesday said.
He said the best evidence of India’s growth story is that the country has earned 174 million dollars by launching American satellites, which is only possible under Prime Minister Narendra Modi, who scrapped nearly 2,000 obsolete laws that were a hindrance in India's economic growth.
"The world is celebrating India's business today and is acknowledging that this is a bright era of India under Modi," the minister of state in the Prime Minister’s office said while addressing a business meeting here.
He said the pro-business reforms unleashed by the central government in the last nine years are laying a strong foundation for New India, opening up new vistas for the business community, improving India's rank in ease of doing business from 142 in 2014 to 63 in 2022, as per World Bank report. In Global Innovation Index, India jumped from number 81 to 40.
"Under Modi, India has had a huge quantum jump in the global benchmarks with India being the fastest growing economy in the world having overtaken United Kingdom, jumping 40 points up in the global innovation index, ranking third in the Start-up ecosystem, with more than one lakh startups from 250 in 2014 with more than 100 unicorns in 2023," he said.
He said the per capita income has also doubled under the present government in the last nine years with manifold increase in exports in almost every sector like mobile chip technology, defence, toy industry, khadi (one lakh crore turnover in 2021-22) and Aggarbati using home-grown bamboo earlier imported from China.
"With the IMF rating saying that the world is looking at India as the bright spot giving self-esteem to all of us," Singh said.
The minister said the business community present here along with the budding entrepreneurs can become the messengers for J&K youth enthusing them towards startup culture and the ‘Stand-up India, Start-up India’ call by Modi from the ramparts of Red Fort so that J&K is not left behind in the journey of Startup India.
