India Soars to 100 Unicorns, Driving Wealth and Innovation Amid Pandemic, According to PM Modi
India has achieved a significant milestone with the number of unicorns in the country reaching 100 this month, despite the challenges posed by the Covid-19 pandemic. Prime Minister Narendra Modi highlighted this achievement during his monthly ‘Mann ki Baat’ radio broadcast. He commended Indian startups for their ability to create wealth and value, with entrepreneurs emerging not only from big cities but also from smaller towns and cities.
PM Modi expressed his pride in India’s unicorns, whose total valuation exceeds USD 330 billion, or more than 25 lakh crore rupees. He further revealed that 44 unicorns were established last year, with an additional 14 formed within just 3-4 months this year. This remarkable growth demonstrates the resilience and success of Indian startups during the global crisis.
Moreover, PM Modi emphasized the impressive average annual growth rate of Indian unicorns, surpassing that of countries like the USA and UK. Analysts predict a continued upward trend in the number of unicorns in the coming years, indicating a promising future for India’s startup ecosystem.
The prime minister underscored the diversification of these unicorns, highlighting their presence in various sectors such as e-commerce, fin-tech, ed-tech, and bio-tech. This expansion showcases the breadth and depth of innovation happening in India.
Crucially, PM Modi emphasized that the Indian startup ecosystem is no longer confined to major cities. Entrepreneurs from smaller cities and towns are making their mark, highlighting the spirit of innovation and wealth creation present throughout the country. He also emphasized the importance of mentoring in the startup world and praised the numerous mentors in India who have dedicated themselves to supporting and promoting startups.
During his broadcast, PM Modi also celebrated India’s rich linguistic and cultural diversity. He highlighted the inspiring examples of individuals such as Kalpana, who achieved excellent academic results in a language she had recently learned, and Shripati Tudu, who created a version of the Indian Constitution in the ‘Ol Chiki’ script for the Santhali community. These individuals exemplify the spirit of Ek Bharat Shrestha Bharat (One India, Great India), promoting unity amidst diversity.
On a different note, PM Modi reminded listeners that June 21 marks the 8th International Yoga Day, with the theme Yoga for Humanity. He encouraged everyone to celebrate the day with enthusiasm while taking necessary precautions related to the Covid-19 pandemic. PM Modi acknowledged the positive impact of yoga on physical, spiritual, and intellectual well-being, particularly in light of the pandemic’s focus on health.
In conclusion, India’s achievement of 100 unicorns showcases the country’s resilience, innovation, and entrepreneurial spirit even in the face of a global pandemic. PM Modi’s recognition of this milestone and appreciation of the startup ecosystem’s growth highlight the government’s commitment to nurturing and supporting entrepreneurial endeavors. India’s unicorns contribute to the country’s economic growth, create valuable job opportunities, and cement India’s position as a global hub for innovation.
