News By/Courtesy: Parimala Ronanki | 08 Apr 2021 12:49pm IST


  • apropos of the summit.
  • PM Modi's point of view regarding the scheme and the start-ups.
  • heeding of DPIIT.

In the last month, India has kept a start-up India international summit. this summit's name was prarambh and this summit was organized by the ministry of commerce and industry. In this summit, many speakers not only from India but also many speakers around the world have taken part in it. In this summit even PM Modi also took part, and, on this eve, he has announced Rs.1000 cr seed fund to support start-ups. Regarding the summit It was a two-day summit in Delhi and was inaugurated by Piyush Goyal. It was organized by the department for the promotion of industry and international trade. This summit is a follow-up of the BIMSTEC summit in august 2018 in which the PM made an announcement. And through this summit, the fifth anniversary of the start-up India initiative was celebrated. It is one of the largest summits that is organized by the Indian government now. In this summit for about 25 countries took part with more than 200 global speakers. Prarambh and IR Piyush Goyal said that this summit is an example of neighbourhood policy that will booster the partnership among the other countries. The partnership among the BIMSTEC countries in the sector will take the start-ups to the forefront of new India, a new neighborhood in the new normal. PM Modi considering this summit as the best stage announced that the Indian government now will bring a 1000 Cr seed fund to support the start-ups. He said that launching this will help the start-ups in India to grow and also stated this by a mantra that is of the youth, by the youth, for the youth. To avail of this fund then basically all over India incubators are made or supported. When this fund is availed then the guarantee is also given to them. And through this guarantee, they can raise debt from the banks or any financial institution. According to DPIIT start-ups are those companies which are opened within 10 years and their annual turnover is less than 100 Cr. And PM also added that when India was fighting with the pandemic these star-ups have dived India for the betterment and being self-reliant while the other countries think about the survival of the start-ups. There are about 41,000 start-ups in which 5,700 are in the IT sector, 3,600 in health, and 1,600 in the agriculture sector which is engaged in work. So, India is said to be the biggest start-up economy in the world. These start-ups are changing the demographic characteristics of the business. He also said that those start-ups are kept in the category of unicorn club whose total valuation is above 1 billion $ in 2014 there were only 4 start-ups which were in that category but now there are about 30 and even more. And recently 11 start-ups have been added to this category. Before people use to say why do not you find a job but now, they say why do not you start a start-up. So, by this statement, it can be said that the perspective of the people all around is changing. And also, the government started supporting. In this way we can say India came a long way ahead.


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Section Editor: 5thVoice.News | 09 Apr 2021 1:50am IST

Tags : #start-ups#stratagem# support

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