Rahul, a Start-up That Fails Often, Says Modi

New Delhi: Prime Minister Narendra Modi on Wednesday took a subtle swipe at Congress leader Rahul Gandhi by highlighting the difference between political startups and business startups. Without naming anyone, Mr Modi said, “Some in politics need to be repeatedly launched.”

Speaking after inaugurating the "Startup Mahakumbh" at Bharat Mandapam, Mr Modi said that many people launch startups. However, the number is much higher in politics, as some "have to be launched repeatedly".

“The startup ecosystem is experimental and moves on to a new one if a particular startup doesn't launch,” he said, contrasting them with the ones in politics.

Expressing satisfaction over the growth of the startup ecosystem in the country due to the right policies, the Prime Minister recalled the initial reluctance and indifference towards the concept of startups in society.

The Prime Minister noted that innovative ideas found a platform over a period of time under Startup India. “Startup has become a social culture and no one can stop a social culture," he said.

The Prime Minister said that the startup revolution is being led by small cities and that too in a wide range of sectors, including agriculture, textiles, medicine, transport, space, yoga and ayurveda. Talking about space startups, he said that Indian startups are working in more than 50 areas in the space sector, including the launch of the space shuttle.

Noting the changing mindset about startups, Mr Modi said that startups have changed the mindset that a lot of money is needed to start a business. He commended the youth of the country for choosing the path of becoming a job creator rather than a job seeker.

“India is the third largest startup ecosystem, with 1.25-lakh startups involving 12-lakh youth who are directly linked with them,” he said, asking the entrepreneurs to be vigilant about filing their patents quickly.

The Prime Minister stated that the startups launched on the policy platforms are reaching new heights today.

The Prime Minister emphasised the importance of the culture of innovation for humanity, not just for Viksit Bharat and mentioned India's initiative to provide a platform for global startups under "Startup-20", which treats startups as the growth engine.

In his address, Mr Modi underlined the numerous opportunities being created for both young innovators and global investors with the advent of the artificial intelligence (AI) industry and mentioned the National Quantum Mission, India AI Mission and Semiconductor Mission.

Mr Modi recalled discussing AI during his address at the US Senate a while ago and assured that India will continue to be a leader in this sector. “I believe that Indian solutions for global applications will become a helping hand for many nations in the world,” he said.

The Prime Minister asked the startups to give back to society by supporting individuals and institutions to come up in the startup sector. He asked them to visit incubation centres, schools and colleges and share their insights with the students.

The Prime Minister underlined the contributions of the youth in making India the fifth largest economy in the world from the 11th position and also highlighted the role to be played by startups in fulfilling the guarantee to make India the third largest economy in the third term. Concluding the address, the Prime Minister said that interacting with the youngsters fills him with new energy as he conveyed his best wishes for the future.

He also exuded confidence about returning to power for a third term in a row and presenting a full Budget for the fiscal year starting April 1, 2024. He noted that businesses, in normal course, put off big events till the elections are over, but the large assembly of startup entrepreneurs and people associated with that ecosystem at the three-day Mahakumbh, days after general elections were announced, is a sign of things to come.

"You know what is going to happen in the next five years," he said, referring to continuity in governance under him after the April 19 to June 4 general election.