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Entrepreneurship needs a major focus on nurturing: Piyush Goyal

BNE ADMIN


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New Delhi: Commerce and Industry Minister Piyush Goyal on Friday called for a greater focus on nurturing entrepreneurship in tier 1 and 2 cities while suggesting successful startups engage with the youth to inculcate entrepreneurial spirit.

About 45 percent of startups in India are from tier 2 and 3 cities and 623 districts have at least one recognized startup. According to the ministry, during 2018-21, almost 5.9 lakh jobs were created by startups, out of which 1.9 lakh are generated so far this year. The minister was addressing the third meeting of the National Startup Advisory Council, which was constituted by the Department for Promotion of Industry and Internal Trade (DPIIT) to advise the government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country. Goyal said the 'Startup India' movement has brought a 'change in mindset from 'can do' to will do' and has helped move past traditional notions of entrepreneurship.

He assured that the government as an enabler is committed to developing a robust startup' ecosystem by providing exceptional benefits such as 80 percent rebate in patent filing and 50 percent on trademark filing, and relaxation in public procurement norms.

Apart from mass jobs creation, our startups have the potential to catalyze India's integration in global value chains, he added - PTI

BNE ADMIN