During the ‘Startup20 Shikhar’ event in Gurugram, Haryana, Mr. Piyush Goyal, the Union Minister for Commerce and Industry, Consumer Affairs, Food & Public Distribution, and Textiles, expressed that India’s remarkable economic scale and market potential have been instrumental in fostering the growth of startups within the global startup ecosystem. He emphasized the importance of global efforts to establish inclusive, supportive, and sustainable startup ecosystems worldwide to address global concerns effectively.
The Minister highlighted the significance of G20 meetings on startups, stressing the need for facilitating the exchange of ideas, best practices, funding mechanisms, and promoting research and development collaborations. He praised the Startup20 Engagement Group for its role in fostering collaboration and bridging gaps between countries. India is enthusiastic about collaborating with partner countries through Startup20, committed to exchanging ideas and working together to support the next generation of job creators who are shaping the future.
Mr. Piyush Goyal emphasized India’s unique position with its demographic dividend, possessing immense talent and expertise that attract startups. He credited India’s exceptional startup culture and substantial market potential for providing a favorable environment for startups to thrive.
Highlighting India’s impressive progress in the startup ecosystem, the Minister pointed out that India has already become the third-largest startup ecosystem globally, despite being a relatively recent participant.
Over the past seven years, India’s 100,000 registered startups, including more than 100 unicorns, have significantly impacted various industries such as health, finance, and agriculture. These startups have created employment opportunities and sparked innovation across diverse sectors.
