Never in the history of India we have heard any Prime Minister talking majorly about start-ups in his independence Day speech. It was not just a mention that went unnoticed. It was taken forward in form an action plan and an event that turned to be a Mecca for entrepreneurs, charmed by the world of start-ups.
Dear entrepreneur, it’s the time for you to act – This message was loud and clear in PM Narendra Modi’s
speech at Vigyan Bhavan on the much-awaited Startup India event. Above all, his signals for the change and recognition of the critical role that start-ups can play in employment creation, economic growth and solving India’s challenges through innovation were well taken. And it was not only from his speech that seem to go well, the thought percolates through all levels of politics and bureaucracy. PM Modi, in his speech, invited start-ups in the areas of agriculture wastage and Indian handicrafts to solve the real problems of India. His aim is to ignite youth to be job creators rather than job seekers.
The event not only showcased success stories of national and international entrepreneurs, but also acted as a platform to hear out their challenges and expectations from the government. Finance Minister Arun Jaitley introduced the Prime Minister’s ambitious Startup India mission at Vigyan Bhavan in New Delhi. Through this landmark programme, PM Modi was willing to create India as the international hub of entrepreneurship, an initiative to empower businesses and giving them support from the government. While addressing the entrepreneurs at Vigyan Bhavan, the finance minister, 'said, “It is a final break from the conventional Licence Raj of India. We ostensibly broke away with it (Licence Raj) in 1991. But the break was only partial, because who would be funded, there was an invisible role of the state, control over land permissions, foreign investment proposals, and environmental clearances.”
The government engaged with the community to really look into the issues that are hindering the ecosystem from growing. With the Startup India Action Plan, more young entrepreneurs are expected to take the risk of starting their own ventures, providing innovative solutions to solve meaningful problems for Indian as well as for global community. The government in the Union Budget next month will announce a friendly tax regime that will encourage the setting up of start-ups in the country, he said. The world of start-ups has been all exciting. Ravi Gururaj, CEO, QikPod, said, “There is no better time to be an entrepreneur in India.” Sharing his experience, Vijay Shekhar Sharma, Founder, Paytm, said, “When others see risk and you see an opportunity that’s entrepreneurship.”