Preference for government jobs impediment to startup culture: Jitendra Singh

Currently, India has over 77,000 in 2022 with more than 100 unicorns compared with 350 startups in 2014, with the country placed third in the global startup ecosystem.

Inaugurating the first-of-its-kind Start-Up Expo in Jammu, covering areas of agriculture, aroma, dairy, pharma, IT, computer and communications, the minister said that startup culture was yet to fully catch up the imagination of the youth and entrepreneurs in some north Indian states especially when compared with those in southern India.

He said, it is important to take note of some of the exemplary instances of many young entrepreneurs who are seen quitting their lucrative jobs in the MNCs to establish their own Start-Ups, as these young entrepreneurs are now beginning to realise the possibility of greater fortunes in this.

Singh underlined the contribution of cities like Bengaluru and Chennai in the startup boom in India and said that innovators, incubators, and entrepreneurs are making a global mark by focusing on areas like 5G, artificial intelligence, drones, semiconductors, Block chain, green energy and Space economy.

Calling for promotion of agri-tech startups in a big way, the minister said, agriculture is one of the important pillars of the Indian economy as 54% of the Indian population depends directly on agriculture and it accounts for around 20% of GDP. He said, the success story of CSIR promoted Aroma Mission of Lavender cultivation in Jammu and Kashmir needs to be replicated in other states.

The Minister pointed out that a new wave of agri-tech startups has emerged in the country in the last few years and these are solving problems related to supply chain management, cooling and refrigeration, seed management and distribution, besides helping farmers to access a wider range of markets.

He said, the young entrepreneurs are now quitting their jobs in the IT sector and MNCs to establish their own startups, as these young entrepreneurs are now beginning to realise that investing in agriculture is one of the very few safe and profitable businesses.