Union home & cooperation minister Amit Shah on Thursday urged India’s industry to fully back startups in view of the linkage they have with industry.
Startups have come a long way since 2014 when the country had just one unicorn – startup with a billion-dollar-plus valuation. “Today with over 100 unicorn startups, the youth of India are representing the country on the global stage,” Shah said at the third edition of ‘Sankalp Se Siddhi’ conference in Bengaluru, organised jointly by the Ministry of Culture and the Confederation of Indian Industry.
A slew of reform initiatives have placed India at the 43rd position in the global competitiveness index from 71 in 2014-15, he said. Between 2014 and 2021, foreign direct investment of $440 billion came into India, the minister said. “We have become the world’s 7th favourite destination for investment. We were at number 142 in the Ease of Doing Business rankings in 2014; today we ar