New Delhi, June 7 (IANS). India’s space startup ecosystem has grown from a single-digit number a few years ago to nearly 400 today, with one startup recently achieving unicorn status. Union Minister Jitendra Singh gave this statement on Sunday.
Additionally, it said that India’s space economy is now valued at around $9 billion and is expected to reach $45 billion by the end of the next seven to eight years.
According to Singh, the country’s startup ecosystem has grown from around 350-400 startups in 2014 to over 23 lakh currently, creating around 24-25 lakh jobs. Nearly half of these startups are based in tier II and III cities, while 35-39 percent of startups are run by women.
Additionally, the Union Minister said that 12 years of Narendra Modi government has transformed India into an aspirational country driven by opportunities, innovation and confidence. Reforms in governance, democratization of technology and citizen-centric policies have fundamentally changed the way Indians see their future.
Singh said that along with the procedural, the most profound change in the last 12 years has also been psychological, and a new aspirational culture has emerged in India.
He said, “The change in mindset that has taken place in the last 12 years under the leadership of Prime Minister Modi is one of the most important achievements. The ambitious spirit that has arisen like ‘I can also do this’ was not there earlier.”
This shift is clearly visible in the increasing number of top winners of the Civil Services Examination emerging from small towns and non-metropolitan backgrounds, reflecting the democratization of opportunities through technology, transparency and fair competition.
The Union Minister linked India’s scientific achievements to this broader transformation.
Referring to the Chandrayaan missions, he said the government has fostered a culture in which citizens feel increasingly connected to national scientific achievements and see innovation as a shared national endeavour. He recalled that Prime Minister Modi encouraged scientists after failures and celebrated their successes, thereby normalizing the notion that failure is a part of innovation and progress.
Additionally, the Union Minister said that the long-term objective of the government is not just economic growth, but to build an empowered and aspirational society that can contribute to realizing the dream of a developed India by 2047.
–IANS
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