New Delhi— India’s startup ecosystem has seen a massive influx of private investment over the past decade, with emerging companies securing more than $150 billion in funding, Commerce and Industry Minister Piyush Goyal said on Thursday.
Highlighting the growth during the 11 years of the Narendra Modi-led government, Goyal noted that over ₹22,900 crore has been invested in more than 1,270 startups through the government’s Fund of Funds for Startups scheme.
“India is embracing technology like no other,” Goyal said in a post on social media platform X. “This digital transformation is the outcome of forward-looking vision and timely policy interventions under the leadership of Prime Minister Narendra Modi. Every section of society and every aspect of life has been positively impacted by 11 years of Digital India.”
Goyal also pointed to the sharp rise in intellectual property filings by Indian startups between 2017 and 2024. Patent registrations surged over 355%, while trademark filings saw a growth of more than 543%. India now ranks 39th in the Global Innovation Index 2024.
He credited the ‘Startup India’ initiative as a key driver behind this innovation boom. “The remarkable talent of our youth and women is powering this revolution and driving India’s economic growth with unparalleled vigor,” Goyal said.
India has grown to become the world’s third-largest startup ecosystem, with more than 1.5 lakh startups and over 100 unicorns.
Minister of State for Commerce and Electronics & IT, Jitin Prasada, echoed Goyal’s remarks, saying, “Eleven years of Digital India have empowered every citizen with seamless services, financial access, and last-mile connectivity.”
He emphasized that digital technology has become deeply integrated into public policy and welfare delivery systems, playing a pivotal role in uplifting the poor and marginalized.
Prime Minister Narendra Modi also weighed in on the country’s digital journey. In a message on X, he wrote, “Leveraging the power of technology has brought innumerable benefits for people. Service delivery and transparency have been greatly boosted. Technology has become a means of empowering the lives of the poorest of the poor.” (Source: IANS)
