India emerging as the land of job creators: Minister Reddy
1 min read . Updated: 28 Jan 2023, 05:34 PM IST
PremiumIndia is the ideal location for today’s startup engagement group, with close to 85,000 registered startups and 100 plus unicorns at a combined valuation of $350 billion
New Delhi: Union minister for Tourism, Culture and Development of Northeast region G. Kishan Reddy on Saturday said that today’s youth wants to be job creators instead of job-seekers.
“Today’s youth want to be job creators instead of job seekers. India is the ideal location for today’s startup engagement group as we have close to 85,000 registered start-ups with 100 plus unicorns at a combined valuation of $350 billion. With the third highest number of unicorns in the world, it is only a matter of time before India leads this list,“ Reddy said after attending the Inception Meeting of the G-20 Start-up 20 Engagement Group in Hyderabad.
“Through our start-ups, our youth wants to become job creators instead of being job seekers. Our startups are innovating, investing and inventing new products and experiences. The success of our startups ecosystem symbolises the passion, progress and the priority of the government in encouraging and hand holding these startups. Our large talent pool and our demographic dividend makes India an ideal investment location", he added.
Reddy also spoke about the various initiatives undertaken by the government to foster a vibrant innovation and startup ecosystem.The Fund of Funds for Startups (FFS) scheme was established with a corpus of $1.25 billion ( ₹10,000 crore) and has catalysed approximately $1.75 billion of investments. He also spoke about the government’s Startup India Seed Fund scheme that has approved $ 60 million for 126 incubators.
The minister attributed India’s jump of 41 places in the Global Innovation Index in the last 7 years to the untiring efforts of the government.
India assumed the G-20 presidency on 1 December 2022 for a period of one year. In this period, India would be hosting close to 100,000 delegates from 20 G20 countries and 9 observer nations. More than 200+ meetings will be held across 56 locations of the country.
