Page 10 - MMI - JanFeb 2021 single

EDITORIAL
SOUMI MITRA
Editor-in-Chief
Modern Manufacturing India
soumi.mitra@magicwandmedia.in
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10 | January-February 2022
CELEBRATING MILESTONES
O ur Hon’ble Prime Minister Narendra Modi has called startups the
‘backbone’ of the new India and declared January 16 as ‘National Startup
Day’. As readers, you must know that MMI carries a segment on budding
startups and their laudable growth. Curious, we did some research on startups
and found out that India has the third-largest startup ecosystem in the world
and is expected to witness year-on-year growth of consistent annual growth of
12-15 percent. These statistics are based on a study done by the Department for
Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce.
The study claims that in 2018, India had about 50,000 startups, including
8,900-9,300 technology-led ones. In 2019, around 1,300 new tech startups were
born, implying there are two to three tech startups born every day. Hence, to
showcase this spirit of entrepreneurship across India, DPIIT has organized the
maiden ‘Startup India Innovation Week’ from January 10-16, 2022.
Similarly, a report by NASSCOM and Zinnov indicates that more than
2,250 startups were added in the year 2021, which was 600 more than what
was added in the previous year. It is reported that in India, startups raised
US$ 24.1 billion in 2021, a two-fold increase over pre-COVID levels. During the
pandemic, India has seen a greater number of Unicorn startups (with a valuation
of over US$ 1 billion) in just 2021 than it did in the period 2011-20.
Clearly, startups in India have extraordinarily evolved and are contributing
significantly to the country’s economic growth and development. We are wit-
nessing an epoch of un-
paralleled innovation
“People want to start their own because of the steep
rise of startups that
business or become financially
brings transformative
independent. But you don’t end
technologies and prod-
up a successful entrepreneur ucts to the marketplace.
unless you find a way to love the
As a leading manufac-
risk, the uncertainty, the repeated
turing publication, MMI
failures, and working insane hours has the responsibility
on something you have no idea of bringing forth such
whether will be successful or not.” stories of entrepreneur-
ship and technological
- Mark Manson
prowess that are mak-
ing India a ‘Techade’. A
big shout out to all our advertisers, contributors, and readers who motivate us
to curate unmatchable content.
And since it’s a new year and a new beginning, I, on behalf of the MMI team,
wish you all a highly productive and successful 2022.
Modern Manufacturing India