Page 7 - NIS English 2021 November 16-31

A NEW FLIGHT OF STARTUP INDIA; 33 COMPANIES BECAME

UNICORNS FOR THE FIRST TIME IN A Qtr, RAISING $10 BILLION

igital India, Make in India, Make for the world, Self-reliant India,
DVocal for local are some of the key initiatives that have paved the YEAR NUMBER OF
way for fast development in the last 7 years. Among these initiatives UNICORNS
is also included the Startup India campaign which was launched in
January 2016 to encourage self-employment. According to a report 2011-14 1
by Price Water House Coopers India, domestic startup companies 2015 4
raised a record $10.9 billion in funds through 347 domestic deals 2018 8
in the third fiscal year of 2021. This is the largest fund raised in 2019 9
any quarter. Not only this, 33 startups from India have joined the 2020 10
Unicorn Club so far this year. Startups included in the Unicorn Club
have a valuation of one billion dollars. Whereas startups reaching a 2021 33*
valuation of $100 billion are called hectocorns. Today a total of 66
startup companies are working in the country, which have got the
status of a unicorn. About 3.3 lakh people have got employment
through these.

DUBAI TO INVEST IN 7 SECTORS IN J&K AGNI 5 MISSILE WITH A RANGE OF 5000
FROM REAL ESTATE TO HOSPITALS KM WAS SUCCESSFULLY TEST-FIRED

ith a foreign direct investment of more than $ 81 n the series of continued testing of ballistic range
Wbillion in the year 2020-21, India set a new record Imissiles, Agni-5, which is called the country's
in terms of foreign investment. Now a new phase of most powerful missile, was successfully test-
foreign investment has started in Jammu and Kashmir, fired on 27 October. This missile is capable of
which is called heaven on earth. The government hitting targets up to a distance of five thousand
of Dubai has come forward to invest in Jammu and kilometers. With the test of the missile, many
Kashmir. A Memorandum of Understanding (MoU) has countries of the world have come under its target.
The Defence Research and
been agreed with the Development Organization
Dubai government (DRDO) has successfully
for developmental test-fired this missile for the
projects like real first time at night from Abdul
estate, industrial Kalam Island in Odisha. This
parks, IT towers, is the eighth successful test of Agni-5. With this,
private hospitals. India has become the fifth country in the world
With this MoU, to develop such a missile. Currently, only the US,
investors from across the globe will be encouraged Russia, France, and China had such missiles.
to invest in Jammu and Kashmir. This is the first Agni-5 is 17.5 meters long with a diameter of
foreign investment in this region after the abrogation two meters i.e. 6.7 feet. This missile covers a
of Article 370. According to Commerce and Industry distance of 8.16 km in one second. It is capable
Minister Piyush Goyal, "This MoU is a big signal to of simultaneously carrying up to one and a half
tons of nuclear warheads. This means it can
the whole world that the way India is turning into a destroy the enemy by covering a distance of five
global power in which Jammu and Kashmir also has thousand kilometers in just 20 minutes. It can be
an important role to play." transported by road to any place.

New India Samachar November 16-30, 2021 5