(MENAFN- AsiaNet News) In a dynamic address at the Startup Mahakumbh, Prime Minister Narendra Modi on Wednesday (March 20) lauded India's vibrant startup ecosystem and highlighted the transformative shift from job-seekers to job-providers. With over 1.25 lakh registered startups employing over 12 lakh individuals, India has emerged as the world's third-largest startup hub, boasting over 110 unicorns and 12,000 registered patents.

PM Modi highlighted the recent liberation of the space sector, noting the emergence of more than 50 startups in the field.

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Reflecting on India's journey towards becoming a global innovation powerhouse, PM Modi lauded the rising trend of innovation and entrepreneurship. Taking a subtle dig at political entrants, he praised the resilience of genuine startups, contrasting them with those in the political arena who often lack the spirit of experimentation and innovation.

PM Modi expressed optimism for India's startup landscape, envisioning the emergence of numerous Unicorns and Decacorns. He credited initiatives like 'Startup India' for fostering innovation, providing access to funding, and nurturing talent through programs like 'Tinkering Labs' and 'Incubating Labs'.

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Drawing from personal experience, PM Modi shared insights into leveraging technology, such as AI, to bridge linguistic barriers and enhance accessibility. He also lauded India's Unified Payments Interface (UPI), lauded by global leaders at the G20 Summit, as a testament to India's prowess in digital innovation.

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