New Delhi: India marked a major milestone in its entrepreneurial journey as the Startup India initiative completed a decade, with Prime Minister Narendra Modi leading the celebrations and crediting startups for transforming the country’s economy, society and global standing. “Startups are engines of economic change,” the Prime Minister said, underlining how innovation and enterprise have become central to India’s development narrative.Launched in January 2016 with the aim of nurturing innovation, easing regulatory bottlenecks and encouraging risk-taking,Startup India has evolved from a policy push into a nationwide movement. In ten years, it has helped position India as one of the world’s largest and most vibrant startup ecosystems, with over two lakh startups recognised by the government, spanning sectors from fintech and health tech to agriculture, clean energy and deep technology.The Prime Minister said the initiative reflects the confidence and creativity of India’s youth, noting that startups are no longer confined to metropolitan centres.

Nearly half of India’s recognised startups now come from Tier II and Tier III cities, signalling a broad-based spread of entrepreneurship and opportunity. Women-led enterprises have also seen a sharp rise, with around 45% of startups having at least one woman director, marking a significant shift towards inclusive growth.The economic impact has been equally striking. From just a handful a decade ago, India today is home to more than 120 unicorns with a combined valuation running into hundreds of billions of dollars. Startups have emerged as major job creators, generating millions of direct and indirect employment opportunities, while also driving innovation across traditional industries through technology-led solutions.A strong policy backbone has supported this growth. Government initiatives such as the ₹10,000-crore Fund of Funds for Startups, the Startup India Seed Fund Scheme and credit guarantee mechanisms have improved access to capital, especially for early-stage ventures. Platforms like the National Mentorship Portal (MAARG) have connected young founders with experienced industry leaders, while programmes such as Atal Tinkering Labs have fostered a culture of innovation among students at the school level.

BI Bureau