Former President Ram Nath Kovind declared on Sunday that India has become the third-largest startup ecosystem in the world, with more than 2 lakh recognized firms fostering innovation and job development throughout the nation.
He stated at a Jain International Trade Organization (JITO) event that over 100 firms have attained unicorn status at the same time.”This remarkable global ranking and the sheer number of high-value startups reflect the innovation, job creation, and world-class enterprises rising from every corner of India,” he added, addressing the gathering of global leaders and technology influencers for the AI Impact Summit.
“Business and principles are not opposites, but partners,” Kovind stated in a speech to mentors and investors at ILLUMIN8, JITO’s nationwide startup initiative. Purpose and profit must advance together.
According to him, Jain beliefs show a profound awareness that a society that prioritizes profits above morals may progress for a while before progressively losing its course.However, he asserted that enterprise based on ethics becomes durable and income that benefits society becomes meaningful.
India’s startup story is about more than just valuation, according to Jeenendra Bhandari, head of the JITO Incubation and Innovation Foundation, who spoke at the event. It has to do with creating value for the actual economy.
The government’s ongoing support, demonstrated through programs like Startup India Fund 2.0, sends a strong message that taking risks and being creative are not only accepted but also encouraged. According to him, India’s entrepreneurs are creating jobs, economic momentum, and global competitiveness in addition to businesses.
