Prime Minister Narendra Modi addressed the 89th episode of his monthly radio programme, Mann Ki Baat on Sunday (May 29, 2022).
PM Modi said Today once again through ‘Mann Ki Baat’ I have got an opportunity to meet you all; millions of my family members. I welcome all of you to ‘Mann Ki Baat’. A few days ago, the country has made an achievement, which inspires all of us… instills a new confidence in India’s prowess. You must be feeling happy on hearing of the century of a batsman of Team India on the cricket field. But, India has scored a century in another field and it is very special. On the 5th of this month, the number of unicorns in the country has reached the figure of 100 and you surely know that a unicorn is a start-up worth at least seven and a half thousand crore rupees.
The total valuation of these Unicorns is more than 330 billion dollars, that is, more than 25 lakh crore rupees. Certainly, this is a matter of pride for every Indian. You will also be surprised to know that out of our total unicorns, forty four came up last year. Not only that, 14 more Unicorns were formed anew in 3-4 months this year. This means that even in this phase of the global pandemic, our start-ups have been creating wealth and value.
The average annual growth rate of Indian Unicorns is more than those of USA, UK and many other countries. Analysts also say that in the coming years there will be a sharp spike in these numbers. The good thing is that our Unicorns are diversifying.
They are operating in many fields like E-commerce, Fin-Tech, Ed-Tech, Bio-Tech. Another thing which I consider more important is that the world of start-ups is reflecting the spirit of New India. Today, India’s start-up ecosystem is not limited to just big cities; entrepreneurs are emerging from smaller cities and towns as well. This shows that in India, the one who has an innovative idea, can create wealth.