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PM Modi at Startup Mahakumbh: 5 takeaways from Modi's address to entreprenuers
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  • PM Modi at Startup Mahakumbh: 5 takeaways from Modi's address to entreprenuers

PM Modi at Startup Mahakumbh: 5 takeaways from Modi's address to entreprenuers

FP Staff • March 20, 2024, 14:07:30 IST
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PM Narendra Modi inaugurated the Startup Mahakumbh at the Bharat Mandapam, a forum that brings together entrepreneurs, stakeholders and innovators from across 2,000 startups with over 1,000 investors

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PM Modi at Startup Mahakumbh: 5 takeaways from Modi's address to entreprenuers
PM Narendra Modi addressed the Startup Mahakumbh held at New Delhi's Bharat Mandapam

Prime Minister Narendra Modi on Wednesday inaugurated the Startup Mahakumbh in New Delhi’s Bharat Mandapam where he addressed stakeholders and entrepreneurs across various sectors.

Modi appreciated India’s startup ecosystem and called it the third-largest ecosystem in the world. He emphasised that 1.25 lakh registered startups have been employing over 12 lakh people in the country.

The PM also visited different stalls and exhibitions featuring different products and innovations from entrepreneurs and said, “The energy & vibe is amazing. Strolling along the stalls and watching your inventions, I could feel the vibe that India’s future holds many Unicorns and Decacorns.”

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VIDEO | PM Modi visits various stalls at Delhi's Bharat Mandapam where he will be speaking at the 'Startup Mahakumbh' shortly.#StartupMahakumbh

(Full video available on PTI Videos - https://t.co/n147TvqRQz) pic.twitter.com/ne6UJGL0vS

— Press Trust of India (@PTI_News) March 20, 2024
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Here are five highlights from PM’s address

1- Hailing the United Payments Interface (UPI) initiative, PM Modi said that the digital payment system has boosted financial inclusivity in the country and helped India bridge the divide between rural and urban regions.

“India has democratized the use of technology. We have risen above the ‘haves and have-nots’ debate,” PM Modi added that during the G20 Summit, leaders from across the globe were “awestruck” by UPI’s technology.

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2- The PM praised Indian startups in the Space sector, and said the world is observing its development in the area. He mentioned that the space sector, which was once “under the shackles of the government” now has over 50 startups that are also launching space shuttles.

“From agriculture to space, we can find Indian startups everywhere. The space sector, which was once in shackles of the government, now has over 50 startups. The world sees the capability of Indian youth,” Modi said.

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3- While taking an apparent dig at Congress leader Rahul Gandhi, PM Modi said, “Many people launch startups, and in politics too, sometimes many launches happen repeatedly.”

He added, “Aap mein aur unme fark yeh hai ki aap log prayogsheel hote hain, ek agar launch nahi hua to turant doosre par chale jaate hain.”

4- The PM recalled the various initiatives launched for startups by the central government like Startup India, which Modi said has provided a platform for innovative ideas, and connected those to funding sources, and began ‘Tinkering Labs’ and ‘Incubating Labs’.

Modi also said initiatives in artificial intelligence (AI) such as the National Quantum Mission, India AI Mission and Semiconductor Mission have opened gates of opportunities for young innovators and global investors.

I urge the youth to leverage the opportunities in the world of AI, semiconductors and more. pic.twitter.com/pvNV8o10Ad

— Narendra Modi (@narendramodi) March 20, 2024
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Reminding the audience of the Interim budget, Modi said Rs 1 lakh crore fund has been announced for Research and Innovation in the country.

5- Reiterating his roadmap for ‘Viksit India’ for 2047, Modi said India over the past decade saw the IT and Software sector touch new heights which in turn is giving rise to a trend of startup culture in India

6- He also said the country attempted to bring together the global startup ecosystems under G20’s Delhi declaration.

“India has attempted to bring together startup ecosystems from around the world under Startup-20. In the same Bharat Mandapam, startups were not only included for the first time in the Delhi Declaration of G-20, but were also considered as natural engines of growth,” PM said.

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