Gandhinagar: Union Home Minister Amit Shah on Tuesday highlighted India’s significant rise on the Global Innovation Index, moving from 91st to 38th place over the past decade. He expressed confidence that the country will enter the top 10 within the next three years.
Speaking at the inauguration of the Gujarat government’s Startup Conclave, Shah credited the success to the Startup India initiative launched under Prime Minister Narendra Modi, noting that India now hosts the world’s third-largest startup ecosystem. “This campaign has transformed our youth from job seekers into job creators,” he said.
“Back in 2015, India ranked 91st on the Global Innovation Index. Today, in 2025, we have jumped to 38th place. This reflects the immense potential of our people. I firmly believe that India will be among the top 10 countries in the coming three years, leading global innovation thanks to the talent and energy of our youth,” Shah added.
Launched in 2016, Startup India is the government’s flagship program aimed at fostering innovation and building a strong startup ecosystem. Since its inception, the initiative has driven remarkable growth:
- In 2014, India had just 500 startups; today, 1.92 lakh startups are registered with the Department for Promotion of Industry and Internal Trade (DPIIT).
- The country had only four unicorns in 2014; now, there are 120 unicorns with a combined market value exceeding USD 350 billion.
- 52% of startups are based in tier-II and tier-III cities, and 48% are founded by women.
- The startup ecosystem has employed 17.9 lakh people, with an average of 17,000 startups launched annually, including 9,000 in smaller cities.
Shah emphasized that the success of Startup India depended on creating the right environment. “Under the Prime Minister’s leadership, startups have received financial, infrastructural, policy, and banking support since 2014. A Rs 10,000 crore fund of funds has been established, the maximum loan limit increased from Rs 10 crore to Rs 20 crore, and several tax concessions introduced,” he said.
He also encouraged industry leaders to invest in startups, noting that one of them could become a unicorn and significantly enhance their wealth.
Highlighting Gujarat’s leadership in the startup sector over the past four years, Shah said, “Chief Minister Bhupendra Patel, along with his team of ministers and officials, has made Gujarat a hub for innovation. The state ranks among the top five in the country, with 16,000 startups. Ahmedabad alone has 6,650 startups, placing it among the top four cities nationally. Gujarat has consistently been the best-performing state in the startup sector for four consecutive years.”
