Business

Startups Behind India’s Meteoric Rise In Global Innovation Index: Piyush Goyal

| Updated : January 10, 2022, 2:30 pm
Updated : January 10, 2022, 2:30 pm

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NEW DELHI: Union Minister of Commerce and Industry Piyush Goyal on Monday asserted that startups are the key reason behind India’s meteoric rise in Global Innovation Index from 76 in 2014 to 46 in 2021 and said that it has created 6 lakh jobs from 2018 to 21.

Addressing the virtual Startup India Innovation Week, Goyal said, “Besides celebrating our entrepreneurs we must develop a futuristic outlook. The Startup India Innovation Week will have dedicated exhibition area for select Startups, National Startup Awards Finalists, beneficiary Startups of Ministries/ States.”

The Minister said that multiple pitching sessions will be organised for Startups and to enable international engagement.

“The event has been organised with full government approach and in collaboration of 30 Departments,” he said.


“Our startups turned COVID-19 crises into an opportunity and made 2021 the Year of Unicorns, with the third largest number of Unicorns. They (our startups) are the key reason behind India’s meteoric rise in Global Innovation Index from 76 in 2014 to 46 in 2021,” the minister said.

Goyal said, “From 2018-21, over 6 lakh jobs have been created by Startups. In 2021 alone, over 2 lakh jobs have been created.”

He pointed out that today, 4 startups are recognised every hour with 45 per cent belonging to Tier II and III cities. 46 per cent of startups have been found by women entrepreneurs.

“Our government is acting as a ‘facilitator’ by focusing on simplification, facilitation and bringing ease in starting and doing business,” he said, adding that open Network for digital commerce will be a game changer that will help our entrepreneurs to save cost as well as build trust.

Goyal also gave 5-point mantra – SENSE – for startups. He said — Share, Explore, Nurture, Serve and Empower.

He said that entrepreneurs should take initiative to share their knowledge, experience, ideas and mentor other startups.

“Startups should explore unexplored areas like ‘Rural Tourism’.” he said, adding that government is focusing on the initiative of ‘Prashasan Gaon Ki Aur’. “The idea is to improve last mile service delivery,” he added.

He also said that startups must work to empower our weavers, artisans and farmers and bring the market to their doorsteps.

He also appealed to make India at 100 the destination for the world, the destination for innovation and invention.


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