Prime Minister Narendra Modi highlighted a significant milestone during his address at the India Today Conclave 2024, noting the proliferation of startups across more than 600 districts in India, encompassing approximately 90 percent of the nation's territory. Comparing the current landscape to a decade ago, he remarked on the remarkable growth, citing a surge from a mere 100 startups to an impressive count of 1.25 lakh today.
Emphasizing the broad geographical distribution of these startups, PM Modi underscored the importance of this dispersion, debunking the common perception that startups are primarily concentrated in hubs like Bengaluru. He commended the entrepreneurial spirit of young individuals in tier 2 and 3 cities whose initiatives have been instrumental in propelling India's startup ecosystem forward.
Reflecting on the shifting discourse around startups, PM Modi noted that even political parties previously disengaged from such discussions are now compelled to address the phenomenon, indicating its pervasive impact on the national agenda.
PM Modi also shed light on government initiatives such as the Pradhan Mantri Mudra Yojana, which has facilitated access to loans for aspiring entrepreneurs, particularly those lacking conventional collateral. Through this scheme, a staggering sum of Rs 26 lakh crore has been disbursed, benefitting eight crore first-time business owners.
Furthermore, he highlighted the Swanidhi scheme, which extends financial support to street vendors without the need for guarantees. Applauding their embrace of digital technologies, PM Modi praised street vendors for their role in India's digital revolution, emphasizing their transformation from marginalized individuals to integral contributors to the nation's digital landscape.
The Prime Minister recounted the impetus behind launching such schemes, citing the realization during the COVID-19 pandemic of the vital role played by street vendors in the economy. He expressed a personal commitment to uplifting their status, recognizing their resilience and significance in India's socio-economic fabric.
