India is marching towards an inclusive and sustainable economy which believes in enabling and enhancing the efficiency and efficacy of our entrepreneurs- Union Minister Shri Bhupender Yadav


Mumbai : 12 April, 2022

Union Minister Shri Bhupender Yadav today said India is marching towards an inclusive and sustainable economy which firmly believes in enabling and enhancing the efficiency and efficacy of our entrepreneurs. He was speaking at the EY Entrepreneur of the Year (EOY) Program 2021 arranged by the Ernst and Young Group in Mumbai.

Union Minister Shri Bhupender Yadav said ‘It is great to see that this year, EOY Awards has 21 Finalists with combined revenues of Rs 1.87 trillion, who collectively employ more than 2,60,000 people; this is a testimony of nation’s entrepreneurial talent’.

Shri Yadav said Capitalising on demographic dividend and governments initiatives which enables the start-up eco system, India’s youth has taken the nation to the top-3 in the world in terms of creating start-ups. He said ‘India is home to 94 unicorns with a total valuation of 319.67 billion dollars’. He further informed DPIIT has recognised more than 61,000 start-ups representing 55 industries, spread across 633 districts with at least one start-up from every State and UT of the country that has created over 6 lakh jobs since 2016. ‘Over 90 of them have become “unicorns” with a combined valuation of over 300 billion dollars’, he added.

Union Minister Shri Yadav said During the times uncertainty, Indian entrepreneurs have continued to demonstrate strong resilience and an excellent ability to adapt to changes and challenges during Covid19 pandemic.

Shri Yadav said There has been a massive 26% surge in the new company incorporation in financial year 2021, which validates the government’s efforts to reduce regulatory hurdles in incorporating new companies.