Startups Drive Innovation & Jobs: Kovind
New Delhi, Feb 15: Former President of India Shri Ram Nath Kovind said that India has emerged
as the world’s third-largest startup ecosystem, with more than two lakh recognised startups
driving innovation and job creation across the country. He made these remarks while addressing
an event hosted by the Jain International Trade Organisation (JITO).
India’s Rising Startup Strength
Shri Kovind stated that over 100 Indian startups have achieved unicorn status, highlighting
the growing strength and global competitiveness of Indian enterprises. He noted that the
impressive global ranking and the large number of high-value startups reflect the scale of
innovation and employment generation emerging from every corner of the country.
With global leaders and technology experts converging for the AI Impact Summit, he observed
that India’s startup ecosystem continues to attract attention for its rapid expansion,
technological advancements and contribution to economic growth.
ILLUMIN8 – JITO’s National Startup Initiative
Addressing investors and mentors at ILLUMIN8, JITO’s national startup initiative, Shri Kovind
emphasised the importance of aligning business success with ethical values. He stated that
business and values are not opposites but partners, and profit and purpose must move forward
together.
He explained that a society focused only on profits while neglecting values may progress for
some time but could gradually lose direction. On the other hand, wealth that serves society
becomes meaningful, and enterprises rooted in ethics become sustainable and enduring.
Focus on Value Creation
Speaking on the occasion, JITO Incubation and Innovation Foundation Chairman Jeenendra
Bhandari said that India’s startup journey is no longer just about valuation figures but about
value creation for the real economy. He highlighted that startups are contributing to
employment growth, innovation and overall economic momentum.
Government Support for Innovation
It was also noted that the government’s continued commitment, including initiatives such as
Startup India Fund 2.0, sends a strong signal that innovation and responsible risk-taking are
actively encouraged. India’s founders are not merely building companies but are strengthening
economic competitiveness and generating employment opportunities at scale.
Conclusion
The address reinforced the view that startups are becoming powerful drivers of innovation,
ethical enterprise and job creation in India. With a strong ecosystem, global recognition and
policy support, the country’s entrepreneurial landscape is expected to continue contributing
significantly to economic growth and employment expansion.