Piyush Goyal sets the target of 75 Unicorns in 2022

As India saw Unicorn boom in 2021, Union commerce minister sets new target of 75 in 2022.

NewsBharati    11-Jan-2022 13:36:18 PM
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New Delhi, Jan 11: As India registered the highest number of Unicorns in 2021, Union Commerce and Industry Minister Piyush Goyal has set a new target for Indian Industry and entrepreneurs.
Piyush Goyal
Piyush Goyal said on January 10 that the startup ecosystem in the country must target adding 75 unicorns this year.
Noting that there are 82 unicorns in India at present and more than half of them had reached the $1 billion valuation mark last year, he said: “Let’s target to nurture an additional 75 unicorns in this year.”
Speaking at the inaugural ceremony of the Startup India Innovation Week, the union minister said that the previous year will always be remembered as the year of unicorns as startups turned the COVID-19 crisis into an opportunity.
Goyal said: “The year 2021 will always be remembered as the year of unicorns (for India) with the third-largest number of unicorns anywhere in the world.”
He added that startups can play a key role in socialising and democratising healthcare across the globe at a time when the world is grappling with the coronavirus pandemic.
Emphasising that entrepreneurs should focus on the make-in-India programme, innovating and mentoring young startups, Goyal pointed out that startups are the key reason behind the country’s meteoric rise in the global innovation index from 76 in 2014 to 46 in 2021.
Highlighting the participation of women in the new economy, he said that 46 percent of startups have women co-founders going by data.
Goyal also pointed out the role startups played in employing people saying that "from 2018-2021, more than 6 lakh jobs were created by startups. In 2021 alone, more than 2 lakh jobs came up."
He added that the government has also taken several steps to encourage startups such as reduction in patent filing fees and relaxation in public procurement norms.
"Fund of funds for startups has also been started. We now also have a seed fund scheme, and I-T exemption for three of the first 10 years," he said.
The government is also working on an open network for digital commerce which will provide opportunities for emerging startups and bridge the gap between large e-commerce companies and new startups.