The creativity and hard work of young Indians have led to a vibrant startup ecosystem in the country, Union Minister Rajeev Chandrasekhar said on Tuesday as he outlined India's vision for 10 lakh startups and 10,000 unicorns over the next 10 years.
Young entrepreneurs in India are innovating on cutting-edge technology, designing chips and building systems for key sectors, he noted while interacting with youngsters on 'National Startup Day'.
The minister also visited boAt manufacturing unit in Noida, accompanied by three young achievers - Gauri Nandana M (a high school student from New Delhi's Kerala School), Pekru Pienyu (co-founder of the innovative Re-Dimension game from Nagaland), and Tusha Tanya (a senior PhD research scholar from IIT Delhi).
During his visit, the minister interacted with the company's employees and engaged in discussions with co-founder Aman Gupta.
"Young Indians today are into cutting-edge technology. They are designing chips and building systems for all important sectors. Therefore, Young Indians are now becoming the ambassadors of New India," the minister said.
"Two very important transformations that our country has undergone are focused, hardworking, corruption-free governance, and Garib Kalyan policies that have lifted 25 crore Indians out of poverty.
"Today is National Startup Day, and there has been a deep, decisive transformation. We have reached a point wherein, from fewer startups in 2014, we have more than 1 lakh startups and 112 unicorns," Chandrasekhar said.
The creativity and hard work of young Indians have catalysed a vibrant and expansive startup ecosystem.
"Our vision is that in the coming 10 years, we will have 10 lakh startups, and we will create 10,000 unicorns," the Minister added.
"On this National Startup Day, boAt joins the chorus of gratitude saluting the Government's integral role in shaping the vibrant entrepreneurial ecosystem thriving across our nation...Today, the world is amazed at the strength of India's youth and how they have contributed to building one of the largest startup ecosystems in the world," boAt co-founder Gupta said.