Prime Minister Narendra Modi has said that India has achieved a landmark figure of 100 unicorns with a valuation of more than 330 billion dollars. He was speaking as part of his Mann Ki Baat radio programme. He said that India’s startup ecosystem is not limited to bigger cities but entrepreneurs are coming from smaller cities and towns, too.
“On the 5th of this month, the number of unicorns in the country reached 100. The total valuation of these unicorns is more than 330 billion dollars, that is, more than 25 lakh crore rupees,” he said adding that it is a matter of pride for every Indian.
Modi also said that the average annual growth rate of Indian unicorns is bigger than that of the US, UK, and many other nations. According to analysts, the coming years will see a sharp spike in these numbers. The best part is that India’s unicorns are diversifying, operating in many areas such as e-commerce, fintech, edtech, and biotech, he said.
He lauded the system in India that mentors startups in the right way. “A good mentor can take a startup to new heights. I am proud that many such mentors in India have dedicated themselves to promoting startups. Even during the pandemic, Indian startups thrived,” he said.
