"Yesterday's Startups Are Today's Unicorns": PM After String Of IPOs

Yesterday's start-ups are today's unicorns, Prime Minister Narendra Modi said in his address to the nation on the 75th Independence Day, marking the beginning of the year-long celebrations 'Azadi ka Amrit Mahotsav'.

Appreciating the coming up of start-ups in the country, PM Narendra Modi said, "Today, several start-ups have come across various sectors, in Tier 1- Tier towns. They are becoming wealth creators and are seeing their market value increase despite the Covid pandemic."

Asserting the importance of made in India products, PM Modi said, "Today, we export 3 billion worth of mobile phones in the world. We need to ensure that goods made in India are of the best quality."

"These make in India products are our identity. They are India's ambassadors," PM Modi added.

In April this year, India's technology industry marked history by adding at least six new startups with a valuation of more than 1 billion dollars. As many as 16 start-ups acquired the unicorn status - a startup valued at $1 billion or more - in the year 2021 alone.

Notably, India's unicorn tally has already touched the 50 mark. Many household names like Flipkart, Paytm, Zomato and Ola are in the list.

Additionally, food-Tech platform Zomato's with its9,375 crore initial public offering (IPO) became the first Indian unicorn to come out with an IPO, creating a special place for itself in India's startup history.