Govt promoting entrepreneurs; small towns emerging as start-up centers: PM
PM Narendra Modi today said the government is taking several steps to promote young entrepreneurs in the country. He added that smaller towns and villages, too, are emerging as vibrant start-up centers, while interacting with young entrepreneurs from cities like Dehradun, Guwahati, and Raipur. He also said that along with "Make in India", "Design in India" is also important for start-ups. Here's more.
Start-ups spreading their wings in various fields
"Adequate capital, courage and connecting with people are required for excelling in the start-up sector," PM Modi said. He added that earlier start-ups meant only digital and technology innovation but now we are seeing start-ups in various other fields, including agriculture. "We have started an Agriculture Grand Challenge. We invite more youngsters to ideate on how to transform our agriculture sector," he added.
Youth is now creating jobs, says PM Modi
The government has launched the Startup India Action Plan to promote budding entrepreneurs in the country. The plan is aimed at giving incentives such as tax holiday, inspector raj-free regime and capital gains tax exemption, Modi said. "Our start-ups are growth engines. Today's big companies were start-ups at some point," he added. He also said that the youth in India is now creating jobs.
Govt has eased norms and start-ups can sell to govt
Commenting on the issue of fund availability for start-ups, the Prime Minister said that his government has created a Rs. 10,000 crore Fund of Funds. He also said start-ups can sell their products to the government and it has eased public procurement norms for them. The PM also added that our country has distinguished itself in the global start-up ecosystem.
