Startups in India: Union Minister of State for Electronics and IT, Rajeev Chandrasekhar said that startups and unicorns in India will see a substantial growth in the coming 4-5 years and startups will grow 10 times.
In his address at the 6th Foundation Day and Investors/Startup Conclave of JIIF (JITO Incubation Innovation Foundation) in Hyderabad, he highlighted India’s remarkable progress in creating unicorns and startups, and how he has harnessed the power of emerging technology like AI, Web 3, Has successfully entered the fields. , and deep technology.
He also interacted with industry leaders and aspiring young entrepreneurs.
Chandrasekhar emphasized on the transformational journey that India has embarked upon since 2014. With the focus primarily on IT and ITeS, the next 4-5 years would see substantial growth for startups and unicorns, he added.
“In 2014, the technology landscape of our country was limited to IT and ITES. However, since then, opportunities have emerged in various domains such as deep tech, AI, data economy, semiconductor design, microelectronics and high-performance computing,” he said.
“Due to the vision of Prime Minister Narendra Modi, what once constituted only one-third of the overall tech sector has now expanded, opening up immense opportunities for unicorns and startups. I am sure from 108 unicorns we will reach 10,000 in next 4-5 years. Today we have over one lakh startups in India and this will increase 10 times,” said the minister.
He also appreciated the collaborative efforts between the industry and the government to enhance skill development.
Acknowledging the historic challenges faced by a significant segment of the population due to lack of skills, the Minister emphasized on the transformative impact of the Skill India initiative. He said that through strategic partnerships with companies both large and small, the government now works together to identify the skills required, creating a comprehensive framework with the active participation of academia, communities and corporates.
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