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New Delhi: Prime Minister Narendra Modi on Sunday said that innovation and risk-taking is crucial for a country with a large youth population to produce phenomenal results, such as building highly valued start-up businesses, which are now attracting record investments into India year-after-year.

In his recent address to the nation, during the monthly radio programme Mann Ki Baat, the PM said that in India there are more than 70 unicorns, or start-ups that have crossed the valuation of $1 billion. He lauded young entrepreneurs and said that the youth of the country has achieved this success in the midst of the coronavirus pandemic.

“In every country with a large youth population, three aspects matter a lot. Sometimes, it becomes the true identity of the youth. The first aspect is - ideas and innovation. The second is the spirit of taking risks and the third is the ‘can do spirit,’ that is, the determination to accomplish any task, no matter how adverse the circumstances. When these three things combine, phenomenal results are produced, miracles happen," he said.

It is true, this is the era of start-up, and it is also true that in the world of start-ups, India is leading in a way today, the PM said. “Start-ups are getting record investment year after year. This sector is progressing very fast. The reach of start-ups has increased to even the small towns of the country," he added. “Due to the success of start-ups, everyone has noticed them and they are getting support from investors from all over the country and abroad. Perhaps, just a few years ago no one could have imagined this happening."

During the programme, PM Modi also interacted with an entrepreneur who has set up a business with government grant, to develop a pollution control technology which has now secured patent. Federal policy thinktank NITI Aayog is also engaged in encouraging innovation and helping start-ups get the needed support, including financing and technological guidance.

In his address, the PM also spoke about the initiatives being taken up by people to protect the nature. He appreciated the efforts of the people of Jalaun in Uttar Pradesh, where villagers have revived a dying river. Meanwhile, he also spoke about Thoothukudi in Tamil Nadu, where residents have been planting trees to prevent small islands and islets from getting submerged in water, which is a climate change threat. “These trees stand firm even in cyclones and storms and give protection to soil. Through this, now a new confidence has arisen in saving this area," Modi said.

“Nature poses a threat to us only when we disturb her balance or destroy her sanctity," the PM said.

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