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India has emerged as the world's third-largest startup ecosystem, with over 2 lakh recognised startups driving innovation and job creation across the country, former President Ram Nath Kovind said on Sunday. At the same time, more than 100 startups have achieved the unicorn status, he said at an event hosted by Jain International Trade Organisation (JITO). With global leaders and technology voices converging for the AI Impact Summit, he said this impressive global ranking and the sheer number of high-value startups reflect the innovation, job creation, and world-class enterprises emerging from every corner of India. Speaking to investors and mentors at ILLUMIN8, JITO's national startup initiative, Kovind said, "Business and values are not opposites, but partners. Profit and purpose must move forward together". Jain principles reflect a deep understanding that a society that focuses only on profits but neglects values may advance for some time, but it will gradually lose its way, he
Give entrepreneurs and households back their time and mental bandwidth, Chief Economic Advisor V Anantha Nageswaran said while making a strong case for significant roll back of regulations both by the Union and state governments. In the Preface of the Economic Survey 2024-25, he said 'Getting out of the way' and allowing businesses to focus on their core mission is a significant contribution that governments around the country can make to foster innovation and enhance competitiveness. "The most effective policies governments - Union and States - in the country can embrace is to give entrepreneurs and households back their time and mental bandwidth. That means rolling back regulation significantly. That means vowing and acting to stop micromanaging economic activity and embracing risk-based regulations," Nageswaran wrote. Effective government policies also means changing the operating principle of regulations from 'guilty until proven innocent' to 'innocent until proven guilty'. Add