‘India’s risk-taking capacity…’: At HTLS Summit, PM Modi lauds India’s booming Start-up ecosystem, Rupay cards’ success

Prime Minister Narendra Modi highlighted India’s economic strides and digital revolution during his address at the Hindustan Times Leadership Summit (HTLS), marking 100 years of the publication. At the event, PM Modi emphasised the remarkable growth of the nation’s start-up ecosystem and the widespread adoption of the Rupay card, celebrating these achievements as milestones of India’s transformation over the past decade.

Entrepreneurial Growth and Risk-Taking

Reflecting on India’s burgeoning start-up culture, PM Modi stated, “Earlier starting even one company was considered a risk; there were hardly any start-ups, but now India has over 1.25 lakh registered start-ups.”

PM Modi credited this surge to the increased risk-taking capacity among the youth and supportive policies, which have collectively fostered innovation and entrepreneurship.

Digital Inclusion with Rupay

PM Modi also praised the success of Rupay cards, noting their role in driving financial inclusion and transforming India’s digital payment landscape.

The indigenous payment system has made cashless transactions more accessible, empowering millions across the nation and reinforcing India’s position as a leader in financial technology, PM Modi noted.

Economic Policies and Public Welfare

Criticising past governance models focused on “good economics and ad politics,” PM Modi outlined his government’s commitment to policies that yield real benefits.

PM Modi highlighted the significant expansion in LPG connections, remarking, “In 2014, there were 14 crore gas connections, and today there are more than 30 crore. Now, we never hear about a shortage of gas,” underscoring the shift from scarcity to sufficiency.

PM Modi also talked about ‘spending big for the people’ and ‘saving big for the people’, wherein he mentioned that the Union Budget for India in 2014 was ₹16 Lakh Crore, and that increased in 2024 to ₹48 Lakh Crore.

Terrorism and National Security

Recalling the Emergency period, PM Modi said, “When the Emergency was imposed, many thought it would stay, but the people of India opposed it, and it was lifted.”

PM Modi further noted how national security has evolved over the decades, referencing the 26/11 Mumbai attacks, and Kashmir, “Times have changed, and now terrorists feel unsafe in their homes,” indicating stronger counter-terrorism measures by India.

Governance and Misinformation

Addressing the challenges posed by misinformation, PM Modi stated, “Our government stands firm and resolute in the era of social media. We are steering clear of vote-bank politics, focusing on progress for the people, by the people.”

Vision for a Developed India

PM Modi reiterated his goal for a Viksit Bharat (Developed India), emphasising that development must transcend political gains. He concluded by showcasing transformative social initiatives like the sanitation scheme including creating toilets across the nation, which has bolstered sanitation and created jobs, reflecting his government’s inclusive approach to growth.

PM Modi asserted, “Very soon India will be the third largest economy in India”.