India, Jan. 16 -- On this day a decade ago, Prime Minister Narendra Modi launched the Startup India initiative to nurture innovation, promote entrepreneurship, and enable investment-driven growth in the country. The day, January 16, later came to be recognised as National Startup Day. In 2026, we are marking the fifth National Startup Day, with a big focus on homegrown AI and semiconductors.

In the last 10 years, the country has grown to over 2 Lakh DPIIT-recognised startups. New sectors have risen to prominence, capital has cycled through multiple waves, and policy priorities have shifted. This shift is also evident in the growing focus on semiconductors, a sector that has long been considered challenging for India to develop.

However,...