India Emerging As Land Of Job Creators: Tourism Min

Union Tourism Minister G Kishan Reddy has said that India has the potential to emerge as the third largest economy and innovation will be one of the key levers. 

While speaking in the inception meeting of the G-20 startup 20 engagement group in Hyderabad, he said that G-20 aims to set the course for acting responsibly, aiming for joint cooperation and achieving and sharing our successes. 

The minister also spoke about the startup ecosystem in India. 

He said, “India is the ideal location for today’s start-up engagement group as we have close to 85,000 registered startups with 100 plus unicorns at a combined valuation of USD 350 billion. 

With the third-highest number of unicorns in the world, it is only a matter of time before India leads this list. Through Indian startups, our youth wants to become job creators instead of job seekers. 

"The success of our startups' ecosystem symbolises the passion, progress and priority of the government in encouraging and hand-holding these startups. Our large talent pool and our demographic dividend make India an ideal investment location," he added.  

While addressing the meeting, Reddy spoke about the Fund of Funds for Startups (FFS) scheme that was established with a corpus of Rs 10,000 crore and has catalysed approximately Rs 13,500 crore of investments. 

He also spoke about the government's Startup India Seed Fund scheme that has approved Rs 455.25 crore for 126 incubators. 

Meanwhile, Reddy attributed India’s jump of 41 places in the global innovation index in the last seven years to the untiring efforts of the government.