Unicorn startups almost doubled in India since 2021: PM Modi

Prime Minister Narendra Modi highlighted that number of unicorn startups in India has doubled since 2021 while focusing on technology and talent as 2 key pillars of India's development journey. The prime minister was virtually addressing a gathering at the 2nd United Nations World Geospatial International Congress.

PM Modi, while addressing the gathering said, “India is a young nation with a great innovative spirit. We are among the top startup hubs in the world. Since 2021, we have almost doubled the number of unicorn startups. This is due to India's young talent.”

He added, “India is celebrating 75 years of freedom from colonial rule. One of the most important freedoms is the freedom to innovate. This has been ensured for the geospatial sector in India. We opened the sector up for our bright, young minds. All the data collected over two centuries suddenly became free and accessible. Collection, generation and digitization of geospatial data are now democratized.”

Noting that such reforms were not isolated, he added, “Along with the geospatial sector, we gave a key boost to our drone sector. Our space sector has also opened up for private participation. 5G is taking off in India as well. Access to existing data, drone technology to get new data, platform for space capabilities, and high-speed connectivity will be a game-changer for young India and the world.”

The theme of this year's UNWGIC is "Geo Enabling the Global Village--No one must be left behind" and the prime minister took this moment to address the steps taken by India toward this goal. He said India has been working on the vision of ‘Antyodaya’ which meant empowering the last person at the last mile, in a mission mode.

PM Modi pointed out the steps taken by the government to make sure no one is left behind, including bringing 450 million people into the banking sector, insuring 135 million un-insured people, bringing sanitation facilities to 110 million families, and tap water connections to over 60 million families.

PM also stressed technology and talent as the two pillars of India’s development journey citing the example of JAM trinity which has delivered welfare benefits to 800 million people seamlessly and of the tech platform that powered the world’s largest vaccination drive.

PM Modi said, "In India, technology is not an agent of exclusion. It is an agent of inclusion."