Applauding Indian start-ups for their performance in 2021, Prime Minister Narendra Modi on Saturday said that he is proud of the country’s start-up sector.
Responding to a tweet by Nasscom President Debjani Ghosh, Modi tweeted, “Indian talent is constantly innovating, learning and growing. Proud of India’s start-up sector and best wishes to them for an even better future.”
Indian talent is constantly innovating, learning and growing.
Proud of India’s start-up sector and best wishes to them for an even better future. https://t.co/NVq8Rn9Xyw
— Narendra Modi (@narendramodi) January 22, 2022
Ghosh, in her tweet, had shared a news report which referred to a study by the industry body and said that start-ups raised $24 billion in funding in 2021.
“India’s #TechStartups showed up to play big time in 2021.. $24Blln in funding (excluding cos set up prior to 2011) 40+ unicorns, 11 IPOs, 198 M&A deals, 6.6lac direct n 34 lac+ indirect jobs,” Ghosh had tweeted.
She had also tagged Union Minister of Railways, Communications, Electronics and Information Technology Ashwini Vaishnaw and Union Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship Rajeev Chandrasekhar in the tweet.
India’s #TechStartups showed up to play big time in 2021.. $24Blln in funding (excluding cos set up prior to 2011) 40+ unicorns, 11 IPOs, 198 M&A deals, 6.6lac direct n 34 lac+ indirect jobs.. 3rd largest tech start up base globally! YESS!@Rajeev_GoI @AshwiniVaishnaw@nasscom pic.twitter.com/M76d9PPFue
— debjani ghosh (@debjani_ghosh_) January 22, 2022
The report by Nasscom had stated that the start-up ecosystem saw a 2X gain in cumulative valuation from 2020 to 2021, with an estimate of $320-$330 billion, demonstrating the sector’s development and recovery throughout the pandemic.
The start-up ecosystem has played a key role in growing direct and indirect job opportunities by providing 6.6 lakh direct jobs and more than 34.1 lakh indirect jobs, it said.
The year 2021 saw the emergence of 42 unicorns across 18 sectors in India, third highest after the US and China, with a cumulative valuation of newly added unicorns standing at around $90 billion. Many start-ups also made their debut on the stock exchanges during the year, including Nykaa and Paytm.