India ranks third in world 'start-up' ecosystem: Union minister Anurag Thakur

Union Minister Anurag Singh Thakur on Saturday said India is now the hub of 'Start-up' ecosystem in the world, ranking third with 90,000 'Start-Ups' and 107 unicorn companies worth 30 billion dollars.

The Minister for Information and Broadcasting, and Youth Affairs and Sports was speaking at the valedictory function of 36th Inter-University North Zone Youth Festival (Antarnaad) under the aegis of Association of Indian Universities (AIU) at the Jammu University.

More than 1,000 participants from 18 universities across the country participated in the week-long festival.

''India is now the hub of 'Start-up' ecosystem in the world, ranking third with 90,000 'Start-Ups' and 107 unicorn companies worth 30 billion dollars which has been possible only by the contribution of India's youth,'' the minister said.

Thakur said the world is looking towards New India under Prime Minister Narendra Modi as India is now the biggest exporter of vaccines, biggest exporter of mobile phones and defence equipment.

He said for sustainable growth, the sustainable investment is required for the development of green economy leading to green jobs.

''For that, India is moving towards becoming the global hub for green hydrogen producing five million metric ton, 10 per cent of the world in the next five years with Rs 8 lakh crore investment that will generate thousands of green jobs for the youth of this country,'' he said.

Praising the various performances of the youth during the festival, Thakur said India has a great history with rich culture, art and tradition and the youth of this country have a great responsibility to preserve this culture, art and tradition which is not seen anywhere in the world.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)