Innovation powers India's economic transformation, employment: EAM on 10 years of 'Startup India'

New Delhi: External Affairs Minister S Jaishankar on Friday acknowledged India's innovation ecosystem emerging as a key driver of growth, employment, and economic transformation over the past decade as the country marks 10 years of the Startup India initiative.

In a post on X, Jaishankar highlighted the role of Prime Minister Narendra Modi's leadership, sustained reforms, robust digital infrastructure, and supportive policies in empowering entrepreneurs and strengthening India's presence in the global economy.

"As we mark a decade of the Startup India journey, India's innovation ecosystem has emerged as a powerful driver of growth, employment and economic transformation. Under PM Narendra Modi ji's leadership, sustained reforms, robust digital infrastructure and strong policy support have empowered our entrepreneurs and strengthened India's global footprint," Jaishankar said.

Earlier today, Prime Minister Narendra Modi celebrated a historic milestone, congratulating all stakeholders in India's Startup industry.

Posting on X, the Prime Minister wrote, "Today is special because we mark a decade since the launch of Startup India. This day is about celebrating the courage, spirit of innovation and entrepreneurial zeal of our people, especially our youth, who have powered India's rise in the global Startup ecosystem."

He also spoke about India's commitments to strengthen its startup ecosystem by working with all stakeholders.

"The Reform Express that India has embarked on has created a very conducive atmosphere for StartUps to venture into areas previously unthinkable, be it space, defence and more."

He also spoke about how Indian startups are contributing to the success of Atmanirbhar Bharat by Indian youth taking risks and becoming problem solvers.

Speaking about the ecosystem, he mentioned the role of mentors, incubators, investors, academic institutions and others who support Startups.

"Their support and insights go a long way in encouraging our youth as they innovate and contribute to growth", he noted.

Startup India was launched on 16 January 2016 by the Prime Minister as a transformative national programme to nurture innovation, promote entrepreneurship, and enable investment-driven growth, making India a nation of job creators rather than job seekers.

Over the past decade, it has emerged as a cornerstone of India's economic and innovation architecture. It has strengthened institutional mechanisms, expanded access to capital and mentorship, and fostered an enabling environment for startups to grow and scale across sectors and geographies.

India's startup ecosystem has experienced unprecedented growth over this period, with more than 200,000 startups recognised nationwide. These enterprises have become significant drivers of employment generation, innovation-led economic growth and the strengthening of domestic value chains in diverse sectors.