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India Emerging As World’s Preferred Start-up Destination: Singh

He said that in 2016 itself, PM Modi had announced from the ramparts of the Red Fort about the start-up initiative, followed by Stand-Up India and several such visionary initiatives

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India is emerging as the world's preferred start-up destination due to its vast unexplored potential coupled with ease of business and regulatory environment provided by Prime Minister Narendra Modi, said Union Minister of State (Independent Charge) Science and Technology, Dr Jitendra Singh. 

While speaking at "India First Tech Start-Up Conclave-2022" and Awards Summit, Singh said, "The robust ecosystem of startups will play a critical role in ensuring that India achieves its goal of a $5 trillion economy by 2025."

He said that in 2016 itself, PM Modi had announced from the ramparts of the Red Fort about the start-up initiative, followed by Stand-Up India and several such visionary initiatives. 

He said, "Due to various schemes, focus and support system provided by Prime Minister Narendra Modi, 10,000 Start-Ups got registered in India in 2021 alone. India now has 50,000 plus start-ups providing more than 2 lakh jobs in the country."

The Minister said that announcements of innovative new initiatives like Digital Rupee, Digital Banking units in 75 districts, Digital University and start-ups linked to Artificial Intelligence, Space Technology, and Drone Shakti are examples of digital push and innovative ecosystem that the government wants to promote. 

"The growth of investment opportunities in tech start-ups in sectors such as state services, healthcare, agriculture, financial services, education, retail, and logistics can generate a huge number of job opportunities and contribute to India's economy," Singh said.