Startup Conclave-2025 starts: India will be among top 10 countries on Global Innovation Index in next 3 years, says Amit Shah in Gujarat

Referring to the GST (Goods and Services Tax) reforms and income tax relief, Shah stated that the taxes are not meant for exploitation but for the development of the nation and since Independence, such a big relief in taxes has never been given.

“Under Prime Minister Narendra Modi’s leadership, GST has recently been simplified. When the new GST law was first introduced nationwide, merging 16 separate taxes into a single system seemed like a distant dream. Initially, all states together contributed Rs 80000 crore GST. Today, as a result of the new GST framework, collections have risen from Rs 80 thousand crore to Rs 2 lakh crore, bolstering the country’s economy,” he said.

“The PM has reduced taxes on many items to zero, half and one third under the reforms and has given a message that the government’s aim is to collect taxes for the development of the nation, not to exploit the public. Whenever the government feels the need to reduce taxes, it will continue to take such decisions in the interest of the public. In the 80 years of Independence, such a big relief in taxes has never been given. In r 2014, there was a tax exemption up to 2.5 lakh annual income, which has been increased to 12 lakh,” Shah stated in his inaugural address.

He said that the GST reform has acted as a bridge between taxpayers and the government. “Whenever people have paid taxes honestly, the PM has ensured tax relief”.

On the startups, Shah said that guided by the Prime Minister, India’s startup sector has witnessed over 380 per cent growth in the past decade, establishing the country as the world’s third-largest startup and digital ecosystem today.

The Union Minister said that India has set a goal to secure a position among the top 10 countries in the Global Innovation Index within the next three years.

“In the 2014 Global Innovation Index, India was ranked at 91. Thanks to the Prime Minister’s decisive and visionary policies, India has now risen to 38th place in the recently released 2025 Global Innovation Index, showcasing the remarkable potential of the country’s youth. By fostering this potential, the conclave is expected to play a pivotal role in placing India among the top 10 countries in the Global Innovation Index over the next three years,” he stated.

Lauds entrepreneurs

Praising the youth entrepreneurs for transforming the startup landscape, Shah said that before 2014, India had only about 500 startups and merely four unicorns. “Before 2014, due to lack of a startup ecosystem in the country, the youth of the country considered foreign countries as the only option for innovation and research, they did not see the scope for startups in India, but after Narendra Modi became the Prime Minister in 2014, he started promoting startups and launched Startup India in 2016 and provided financial, policy and infrastructure support to startup growth, due to which the number of startups and unicorn startups in India increased manifold”.

“The PM fulfilled the dream of turning Indian youth from job seekers to job creators. India now boasts over 1.92 lakh startups and more than 120 unicorns, with a total valuation exceeding USD 350 billion. As a result, the youth of India are evolving from being job seekers to job creators,” he stated, appealing to industrialists and investors to capitalise on this remarkable potential among young entrepreneurs.

Speaking about the second edition of the Startup Conclave, he said that during this two-day event, seven sessions will be held.

Recalling Prime Minister’s words, he said that while India faces millions of problems, it also boasts billions of problem solvers. Also, the startups have expanded to tier 2 and tier 3 cities as well. “Before 2014, the presence of startups in India’s Tier-2 and Tier-3 cities was minimal; today, 37 per cent of the country’s total startups originate from these cities… 48 per cent of India’s total startups are founded by women. In the North-East, around 900 women-led startups are actively contributing to the vision of an Atmanirbhar Bharat. Thus far, the startup ecosystem has generated employment for around 17.90 lakh people. Furthermore, in Tier-2 and Tier-3 cities, about 9,000 startups are launched each year, showcasing the country’s rapid development.

Shah said to facilitate startups, a Fund of Funds (investment strategy) worth Rs 10,000 crore has been created. To facilitate investors, over 3,400 laws in the country have been amended, he added.

During the event, Gujarat Chief Minister Bhupendra Patel said that the toy industry was once heavily dependent on imports and following PM’s address during Mann Ki Baat where he encouraged the promotion of Made-in-India toys, “India’s toy industry is now thriving in the global market, with toys being exported to 153 countries”.