This news will surely be music to the ears for the young and aspiring Indian entrepreneurs who are striving to make big.
The Minister of State for Finance Jayant Sinha said that Prime Minister Narendra Modi will make a series of “very important” announcements to promote startups in the country in December.
During his Independence Day speech, Mr. Modi had announced a new campaign ‘Startup India; Stand up India’ to give a boost to entrepreneurship and job creation in the country. This campaign will also help to promote bank financing for startups and government will offer incentives.
“… in early to mid-December the Prime Minister is going to make a series of very important announcements on Startup India where we will bring together the work that we are doing and make some important announcements about how we are going to take forward India’s entrepreneurial ecosystem,” Sinha said.
He further added that the announcements are going to be “very exciting”, and the government is committed to promote startups and entrepreneurship.
“We have already done, I think, more in the last 15 months than the previous government did in 10 years,” Sinha said.
Sinha said the announcements to be made by the Prime Minister would ensure that India as a country with respect to startups and entrepreneurs “is going to be the best in the world”.
He went on to say that the government is working very hard to make it very easy to do business for entrepreneurs and startups, and also to ensure the financing is available. Ease of doing business in India is one of the top priority for this government.
Another area where the government has put a lot of stress is to foster innovation in research centres and in the universities through the network of innovation laboratories.
In the Budget, there were a number of important steps to encourage startups, including setting up of India Aspiration Fund and Atal Innovation Mission.
“We have tried to streamline and make doing business in India much easier,” Sinha added.
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