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Next wave of startup to come from tier 2 and 3 cities: Union Minister

Rajeev Chandrasekhar, Union Minister of State for Skill Development, said Government of India will soon launch a "Digital India Startup Hub" programme and create a "Digital India Investment Fund" which will fund startups.

MoS IT: Leading global names interested in India as chip hubMinister of State for Electronics and IT Rajeev Chandrasekhar. (File)

The next wave of startup will come from tier-2 and tier-3 cities, said Rajeev Chandrasekhar, Union Minister of State for Skill Development, Entrepreneurship, Electronics and Information Technology who arrived in Ahmedabad on a three-day visit to Gujarat, on Friday.

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“People used to think that United States or Western Europe was the number one innovation economy. But in the last three years, India has shown the world that it has the maximum number of unicorns, innovations, investments and companies. In last three years, we have created more than one lakh start-ups of which 100 are unicorns,” he said at an interaction with mediapersons.

“Our focus is to see that startups are formed in tier-2 and tier-3 cities. Those which are currently in existence are in Bengaluru, Hyderabad, Gurugram, Pune, Mumbai and Chennai. Of the 100 unicorns, 95 percent are in these cities. So the full focus of the government is to ensure that next wave of 2-3 lakh startups should be from the smaller towns. The government’s investments will be on smaller towns,” he added.

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The minister said Government of India will soon launch a “Digital India Startup Hub” programme and create a “Digital India Investment Fund” which will fund startups. Talking about the shortage of “digital talent” in India, the minister said, “This year large Indian companies were hiring from Canada and Australia… So in coming days the demand for skilled talent is going to be huge. In December, I was sent to Dubai. Today UAE wants both blue collared and white collared employees from India…”

First published on: 21-05-2022 at 03:34 IST
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