Workaholic Modi Startup Target

Under workaholic PM, India has set the target of 10,000 unicorns in the next five to six years, says Union Minister Rajeev Chandrasekhar

HYDERABAD, July 17 (The CONNECT) - With a workaholic Prime Minister who is in a hurry, the government aims to grow the startups in India to 25 lakhs and the unicorns to 10,000 in the next five to six years Union Minister for Electronics and Information Technology and Skill Development & Entrepreneurship Rajeev Chandrasekhar has said.

The country has now 1.2 lakh startups and 108 unicorns and the aim is to see a 10x growth, Chandrasekhar during in a fireside chat with Sanjay Lodha, Secretary JITO at JITO Incubation and Innovation Foundation’s 6th Foundation Day celebrations and Investors’ Conclave here.

“Prime Minister Narendra Modi is a workaholic. He works hard, works for long hours of the day.  It is difficult for many of us in the ministry to keep pace with him,” the Minister said.

Whatever progress we are able to achieve is because of the sincere efforts of the PM and all the citizens of the country.  Digitalisation is also helping us progress fast.  It used to contribute just 4 to 5% of GDP in 2014. By the time we achieve a 5 trillion economy, it will contribute 20% to GDP. It is India's Techade (Technology Decade), Chandrashekar narrated.

Speaking about progress on various fronts the Minister said the nation end up achieving what China did in 30 years and failed and could not achieve in Semiconductors.  China spent a lot of money in the last so many years in trying to create a semiconductor industry and what do they have today, he asked.  The country will have a semiconductor research centre soon. 

In the year 2014, when the Modi Government came into power, 82 to 86% of mobile phones used to be imported. Today in the year 2023, 99.999% of mobiles are manufactured domestically.  The exports were zero. Today one lakh crore rupees worth of Apple and Samsung phones are exported. “Today we are the second largest manufacturer of mobile phones in the world,” he pointed out.

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