Indian startups continued to create wealth even throughout COVID: PM Modi

PM Modi mentioned the typical annual development fee of Indian unicorns is greater than that of the U.S., the U.Okay.

PM Modi mentioned the typical annual development fee of Indian unicorns is greater than that of the U.S., the U.Okay.

Noting that the variety of unicorns in India has reached the 100-mark, Prime Minister Narendra Modi on Could 29 mentioned that even in the course of the COVID pandemic, India’s startups continued to create wealth and worth.

In his month-to-month ‘Mann ki Baat’ radio broadcast, he mentioned that on the fifth of this month the variety of unicorns in India reached the 100-mark.

“One unicorn means a startup of no less than ₹7,500 crore turnover. The overall valuation of those unicorns is $330 billion, that’s over ₹25 lakh crore. Absolutely it’s a matter of immense pleasure for each Indian,” the Prime Minister mentioned.

“You can be amazed to know that out of the whole unicorns, 44 unicorns have been shaped solely final 12 months. Not solely that, in a span of three-four months this 12 months, 14 unicorns have been made. Because of this even in the course of the world pandemic our startups continued to create wealth and worth,” he mentioned.

Mr. Modi mentioned the typical annual development fee of Indian unicorns is greater than that of the U.S., the U.Okay. and lots of different nations.

He additionally mentioned Indian unicorns are diversifying and the world of startups is reflecting a spirit of latest India with entrepreneurs additionally coming from small cities and cities.

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