Amitabh Kant: India's Startup Ecosystem Rises to Global Heights

Amitabh Kant, former CEO of NITI Aayog, celebrates India's remarkable growth in the startup sector, now boasting 135 unicorns and 1.4 lakh startups. He emphasizes the significance of removing the Angel Tax, domestic investments, and initiatives like the PLI scheme for further economic acceleration.

Amitabh Kant, the former CEO of NITI Aayog and G20 Sherpa, has hailed India's swift rise in the global startup arena, spotlighting its status as the third-best startup ecosystem worldwide

With 135 unicorns, the country now accommodates over 1.4 lakh startups. In an exclusive interview with ANI, Kant highlighted, "We started with 356 startups. Today we have 1,40,000 startups. We've created the third-best ecosystem in the world." He praiseds the removal of the Angel Tax in this year's budget, noting its potential to boost the startup sector.

Kant also stressed the vital role of domestic investment for sustained growth. "We would now require a lot of Indians, Indian pension funds, insurance companies, all to invest in our own startup," he said. Looking ahead, Kant underscored India's ambition to be a global economic powerhouse by 2047, driven by initiatives like the Production Linked Incentive (PLI) scheme.

On the international stage, Kant declared India as a key driver of growth amid global economic challenges, citing a robust 8.4% growth rate. "Most countries look at India as an oasis of growth," he remarked. He called for boosting and scaling up businesses to solidify India's position as the third-largest global economy.

Kant's vision for India's future, termed Vision 2047, involves a collective national effort towards development, underpinned by a strong commitment to improving education and healthcare. "Every Indian must focus on improving education and health for several other Indians around him," said Kant, emphasizing the need for every citizen to contribute to the nation's growth.

(With inputs from agencies.)