Encouraging Startup Growth

Prime Minister Narendra Modi has reaffirmed his government’s commitment to fostering an environment conducive to startup growth and wealth creation in India. He emphasized the importance of providing the right ecosystem for startups to thrive and contribute to the nation’s economic progress. Modi’s remarks come in response to accolades from prominent figures in India’s startup ecosystem, highlighting the positive impact of government initiatives on entrepreneurship and innovation.

Supporting Entrepreneurial Spirit

Prime Minister Modi praised the entrepreneurial endeavors of people such as Varun Alagh, co-founder of Mamaearth, and Deepinder Goyal, founder of Zomato, in a series of postings on the social media site X. Coming from a modest background himself, Goyal acknowledged that government efforts allowed him to turn Zomato into a profitable business that employs thousands of people. Alagh further commended the Modi government for building a conducive environment that enables middle-class entrepreneurs to fulfill their aspirations.

Recognition from Startup Leaders

At a recent gathering chaired by Cabinet Minister Hardeep Singh Puri, startup executives praised the Modi government’s initiatives to foster technology innovation and entrepreneurship. Prominent individuals such as Abhiraj Singh Bhal from Urban Company and Rohan Verma from MapMyIndia have expressed their appreciation for government programs like Startup India and the unblocking of vital industries like space and geospatial technology. They emphasized how proactive policies might generate chances for growth and innovation.

India’s Progress in Strategic Sectors

Modi also praised India’s space industry achievements, which have won praise from all across the world. He reaffirmed the government’s commitment to revolutionizing vital industries like geospatial technology and space, creating fresh chances for advancement and creativity. India is becoming a leading innovator in aerospace and allied industries thanks to the opening up of important sectors like space and military.

Creating Opportunities in Manufacturing

Dixon Technologies Chairman Sunil Vachani praised India’s shift from importing to manufacturing billion-dollar electrical items. He attributed this change to government initiatives, most notably the “Make in India” campaign. Vachani emphasized the tremendous advancements made in industries like LED lights and televisions, where domestic value addition is as high as 75%, while noting the need for higher value addition in manufacturing.

Government’s Proactive Approach

Prime Minister Modi emphasized the value of wealth creators and inventors’ contributions to India’s economic expansion while reiterating his government’s unflinching support for them. He praised the proactive measures that have been done in recent years to improve India’s electronics and mobile phone industries. The government’s dedication to promoting entrepreneurship, innovation, and economic development is demonstrated by Modi’s support of proactive policies and initiatives.

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Saiba Verma, an accomplished editor with a focus on finance and market trends, contributes to Atom News with a dedication to providing insightful and accurate business news. Saiba Verma analytical approach adds depth to our coverage, keeping our audience well-informed.