Prime Minister Narendra Modi said India has become the third-largest startup ecosystem in the world [1].
The statement underscores the government's effort to position India as a global hub for technology and entrepreneurship. By highlighting this growth on an international stage, the administration aims to attract foreign investment and talent to its expanding digital economy.
Modi said the remarks during a press conference in Paris, France, in May 2024 [2]. The appearance occurred as part of a broader visit to Europe, which included the G7 summit [2].
During the event, Modi said that the country's current standing is a testament to the government's focus on technology and entrepreneurship [3]. He said that India's digital transformation has accelerated over the last 12 years [4].
"India has become the third-largest startup ecosystem in the world, a testament to the government's focus on technology and entrepreneurship," Modi said [3].
The Prime Minister used the platform to showcase how India's domestic policies have fostered a climate conducive to new business ventures. This growth is part of a larger strategy to transition the nation from a service-based IT provider to a product-driven innovation center.
Modi also said that the scale of the ecosystem reflects a shift in the mindset of the Indian workforce — moving from job seeking to job creation [4]. This shift is intended to drive long-term economic resilience and competitiveness in the global market.
“India has become the third-largest startup ecosystem in the world”
India's claim to the third-largest startup ecosystem signifies a strategic pivot toward 'deep tech' and scalable digital products. By promoting these metrics during G7-related engagements, India is signaling to Western economies that it is no longer just a source of low-cost labor, but a primary destination for venture capital and high-tech collaboration.
