Rajeev Chandrasekhar describes start-ups as new normal

Union Minister Rajeev Chandrasekhar said that startups are the new normal and not just fashion these days, that are emerging out of deep structural changes in the Indian economy.

He highlighted how India has emerged as the world's third largest startup ecosystem with 100 unicorns and over 75,000 registered startups and termed the youth the real drivers of the Indian economy towards its goal of a $5 trillion economy and beyond.

During an interaction with students of the Nirma University, the Minister said, “Startups are not a fashion these days, they are the new normal. They are the new reality emerging out of the deep structural changes in the Indian economy ushered by the proactive policies and reforms initiated by the Narendra Modi government over the last eight years.”

The minister also visited the Ganpat University in Mehsana and the 5G Centre of Excellence, the Assembly line set up by Suzuki under a joint initiative between India and Japan. He added, “Innovation will shape our future as well as that of the nation. Startups and entrepreneurs would take the Indian economy to trillions.”

He said rapid digitisation during the COVID-19 pandemic has opened new opportunities for India in general and young people in particular and attributed the structural changes in the economy to the reforms initiated by the Narendra Modi government.