Decade Lost "In Nepotism, Policy Paralysis, Scams": PM Slams Congress

Decade Lost In Nepotism, Policy Paralysis, Scams: PM Slams Congress

New Delhi: Prime Minister Narendra Modi attacked the Congress on Friday, saying that a decade had been lost "in nepotism, policy stagnation, and scandals," and that the BJP-led administration had restored faith in the youth's ability to innovate and established a suitable environment for the creation of startups.

The Prime Minister launched the Madhya Pradesh Startup Policy via video conferencing during the Madhya Pradesh Startup Conclave in Indore, noting that there were only 300-400 businesses in 2014, but India now has 70,000 recognised startups after eight years.

"In India, there was always eagerness to do something new. We have experienced it during our IT revolution. The need was to channelize the atmosphere created by it, a direction should have been given but this did not happen. We have seen that around one decade was lost in nepotism, policy paralysis and scams. This destroyed dreams of a generation in one decade. Our youth have ideas, were eager for innovation but they were left confused due to the lack of clear policies of previous governments," he said.

The Prime Minister claimed that the BJP-led administration restored the spirit of creativity in India's youth after entering power in 2014.

"After 2014, we revived the spirit of innovation in India's youth. We focused on 'idea, innovation and industry'. First, we invested in infrastructure and reduced compliances and promoted a broader, innovative mindset. We worked on different fronts and organised Hackathons," he said.

PM Modi stated that the country's startups are not limited to metropolitan areas.

"In 2014, there were only 300-400 startups but today after eight years, we have 70,000 recognized startups, and we're third largest ecosystem. These startups are not limited to only metro cities. Around 50 per cent startups are in Tier 2-3 cities," he said. He said that every 7-8 days a new unicorn is made in this country.

He said there is a proactive startup policy and equally dedicated startup leadership in the country, noting that the country's development is gaining new speed thanks to the vitality of youth.

He stated that the country's startup story has changed dramatically in the last eight years.

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