Union Minister for Labour and Employment Bhupender Yadav has said that India’s vibrant start-up ecosystem is a testimony to the country’s entrepreneurial talent. Addressing a ceremony in Mumbai to present the EY Entrepreneur of the Year Award, Yadav said, India is home to 94 Unicorns with a total valuation of approximately 320 billion US dollars.
Highlighting the growth of the Start-up sector in India, Yadav remarked “capitalizing on demographic dividend and government’s initiatives enabling the start-up system, India’s youth has taken the nation to the Top 3 in the world.” Yadav further said that during the times of uncertainty, Indian entrepreneurs have continued to demonstrate strong resilience and an excellent ability to adapt to changes and challenges during Covid19 pandemic.
Yadav lauded young entrepreneurs for demonstrating strong resilience and an ability to adapt change even during the COVID-19 pandemic,
Presenting the EY Entrepreneur of the Year Award-2021 to the founder of Nykaa Falguni Nayar, the Minister said, it is great to see that the 21 finalists for the said award have a combined revenue of 1.87 lakh crore rupees and employ close to 2.6 lakh people.
The Minister informed that the Government has announced Rs 6,000 crore RAMP (Raising and Accelerating MSME Performance) Programme to scale up the businesses of MSMEs. He added that one of the thrust areas of the programme is to increase the participation of female entrepreneurs. Yadav further said ‘the digital ecosystem created by our government with a focus on digital inclusion through 5G and investment in technologies such as Artificial Intelligence and infrastructure will continue strengthening the development of entrepreneurship across the country’.