According to Prime Minister Modi, India holds the third position worldwide in the startup ecosystem.

Prime Minister Narendra Modi, addressing the Startup Mahakumbh event, highlighted India's remarkable ascent as the world's third-largest startup ecosystem, boasting a staggering 1.25 lakh startups and 110 unicorns. He emphasised that India's trajectory towards becoming a developed nation is facilitated by timely decisions.

PM Modi noted that India's startup culture extends beyond metro cities, permeating into society at large. He expressed his commitment to elevating India to the status of the world's third-largest economy during his third term, with startups playing a pivotal role in this endeavour.

He credited the Startup India initiative for providing a platform for innovative ideas and fostering connections between entrepreneurs and investors. PM Modi commended the youth for embracing entrepreneurship, transitioning from job seekers to job creators.

Additionally, he underscored the significant contribution of women, who spearhead over 45 percent of Indian startups, and emphasized India's democratisation of technology, dispelling the notion of technology disparity among social classes.

Prime Minister Modi also lauded the allocation of Rs 1 lakh crore for research and innovation in the interim budget, foreseeing its positive impact on burgeoning sectors.