- In the eight years since the launch of ‘Startup India,’ India has become the world’s third-largest startup ecosystem
- 48% of the country’s startups are founded by women, and 900 startups in the Northeast are led by women
- In 2014, there were only 500 startups and 4 unicorns, but today there are 1.92 lakh startups and over 120 unicorns with a valuation exceeding $350 billion
- Gujarat has consistently ranked first in the country for startups for four consecutive years, and Chief Minister Bhupendra Patel has brought PM Modi’s vision to reality
R MANICKAVASAGAM
GANDHINAGAR, SEPT 23
Union Home Minister and Minister of Cooperation, Amit Shah, inaugurated the Startup Conclave 2025 in Gandhinagar, Gujarat, on Tuesday. The two-day event, themed “Innovate, Elevate, Accelerate,” aims to connect emerging startups with investors and advance Prime Minister Narendra Modi’s vision of taking Indian ideas “from mind to market.” Gujarat Chief Minister Shri Bhupendra Patel and several dignitaries were present at the inaugural ceremony.
India: From job seekers to job creators
Addressing the gathering, Shri Amit Shah highlighted that under Prime Minister Modi’s leadership, India has transformed from a nation with just 500 startups and four unicorns in 2014 to over 1.92 lakh startups and 120+ unicorns today, valued collectively at over $350 billion.
“Startup India has turned the youth from job seekers into job creators, and positioned startups as instruments of self-reliance rather than just profit-making entities,” he said. The ecosystem has so far created sustainable employment for 17.9 lakh people across 770 districts.
Women and regional growth leading the way
Shri Shah underlined that 48% of Indian startups are founded by women, with 900 women-led ventures flourishing in the Northeast alone. Startups in healthcare, agriculture, and social impact sectors, he added, are “becoming a blessing for millions of poor people.”
He noted that Gujarat has ranked first in the country for startups for four consecutive years. With over 16,000 startups across the State and 6,650 in Ahmedabad alone, Gujarat is consolidating its position as one of India’s top five startup hubs.
India’s global innovation leap
In 2015, India ranked 91st in the Global Innovation Index. By 2024, the country had surged to 38th place, and Shri Shah expressed confidence that India will break into the top 10 within three years.
He attributed this progress to a supportive ecosystem of financial, policy, and infrastructure reforms — including a ₹10,000 crore Fund of Funds, a ₹945 crore Startup India Seed Fund, simplified compliances, PLI schemes across 14 sectors, and easier access to loans.
GST reforms: a bridge of trust
Shri Shah also spoke on GST reforms, calling them “a bridge of trust between taxpayers and the government.” He highlighted that GST revenues have grown from ₹80,000 crore to over ₹2 lakh crore, while tax rates on many essential goods have been halved or reduced to zero.
He reminded the audience that under PM Modi, income tax exemptions have expanded dramatically — from ₹2.5 lakh in 2014 to ₹12 lakh today. “For the first time since independence, the people are witnessing such large-scale tax reduction,” he said.
Gujarat at the forefront of Startup India
Praising Gujarat’s contribution, Shah said, “Chief Minister Bhupendra Patel has effectively implemented Prime Minister Modi’s vision, turning Gujarat into the center of the startup revolution.”
He concluded by stressing that the backbone of PM Modi’s vision of New India is the youth and the startup ecosystem — with the government committed to standing “like a rock” behind young innovators.
