Prime Minister Narendra Modi praised mentors who had committed their lives to promote start-ups

Expressing happiness at the number of Indian unicorns touching 100 earlier this month, Prime Minister Narendra Modi on Sunday described it as a "very special" century.

During the 89th broadcast of his monthly radio show Mann Ki Baat, Prime Minister Modi said that the country's unicorn number had reached 100 on May 5, with a total value of more than 330 billion dollars, or more than 25 lakh crore rupees. He added that out of these unicorns, 44 appeared last year and 14 more this year.

A unicorn is a start-up valued at over USD 1 billion.

Prime Minister Modi emphasized that Indian start-ups have been producing wealth and value even during this time of the Covid-19 pandemic and that the average yearly growth rate of Indian unicorns is higher than that of the United States, the United Kingdom, and many other nations.

He also stated that Indian unicorns are diversifying by working in a variety of industries such as e-commerce, fin-tech, ed-tech, and bio-tech and that the startup industry reflects the "spirit of the new India."

The Prime Minister went on to remark that India's start-up ecosystem was no more restricted to major cities, as many entrepreneurs were coming from smaller cities and villages, demonstrating that anybody with an innovative idea can produce wealth in India.

He stated that the country's prosperity was the result of the country's young, talented, and government working together and contributing to the overall success of the country. He also said that proper mentorship or advice is critical for a startup ecosystem since a competent mentor can take a company to new heights and help the founders in every way toward the right conclusion.

Prime Minister Modi went on to say that he was very pleased with the numerous mentors in India who had committed their lives to promote start-ups.