Union Minister Smriti Irani on Tuesday said India has emerged as the third-largest startup ecosystem in the world with more than 84,400 such businesses operating across 656 districts in the country.

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In 2014, there were only 720 startups in the country, Irani said.

She further said the valuation of Indian unicorns stood at USD 332.7 billion.

"Under Prime Minister Narendra Modi's leadership, India has emerged as the third-largest ecosystem of startups with more than 84,400 startups in 656 districts across the country," Irani was quoted as having said in a statement issued by the BJP. The minister said in 2014 when Narendra Modi assumed the charge of prime minister, he had stated that his aim would be to create such atmosphere that the youth should be "job creators rather than job seekers."

"Prime Minister Modi took various measures including Skill India, Start-up India, Stand-up India, Make in India, Digital India and Mudra Yojana to empower the youth," Irani said.

Talking about the economy, she said in the last eight years, India has become the fifth-largest economy in the world.

"In India's economic progress the youth have taken the lead by moving forward under the leadership of Prime Minister Modi. Our prime minister believes that the youth are the backbone of the country. They are the future as well," she said here.

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