Startups in India have reached a milestone in the last five years- Dr Karad

virtual inauguration ceremony of the online exhibition for startup of Tata Technologies-Magic Innovation Hub (TMIH)

Aurangabad, Dec 28:

The Startup India campaign was launched in 2016 by Prime Minister Narendra Modi to promote India's innovative entrepreneurs. Startups in India have reached a milestone in the last five years, said union minister of state for finance Dr Bhagwat Karad. He was speaking at the virtual inauguration ceremony of the online exhibition for the startup of Tata Technologies-Magic Innovation Hub (TMIH) here on Tuesday.

The three-month exhibition provides a platform for integrating all components of the startups. Speaking further, he said that the government has always strived to promote startups, so the forthcoming union Budget would provide a substantial provision for startups.

Startups in India have made great progress in the last two years as more than 6 lakh people have got direct employment through startups in the country and the number of registered startups in the country has increased to more than 60,000. Out of 79 unicorns in the country (with a turnover of over $ 1 billion), 42 unicorns have been recorded in the last one year. He noted that startups are also contributing to the transformation of society.

Speaking on the occasion, Manisha Verma, principal secretary, skill development department, Maharashtra, said that special efforts are being made by the government to create a startup ecosystem. Out of the total 60,000 registered startups in the country, 12,000 startups are in the state of Maharashtra and 200 startups are operating in Aurangabad city alone. Head of Agni Mission Rahul Nair, Magic directors Ashish Garde, Prasad Kokil, CSR head, Tata Technologies Ltd Vikrant Gandhee, Vincent van Nord of the European Business Technology Center, CII West zonal chairman BJ Thiagarjan and others were present.