The government’s ‘Start-Up India’ initiative along with a ‘Start-Up Action Plan’ will be launched in New Delhi Today. CEOs and founders of top start-ups will be part of the event.
Why is innovation important for India?’ which will be addressed by Finance Minister Arun Jaitley, Minister of State for Commerce and Industry Nirmala Sitharaman, Onno Ruhl, Country Director, World Bank and Krishnaswamy Vijay Raghavan, Secretary, Biotechnology.
The sessions following this will conducted by various start-ups and experts from India as well as international will talk about the start-up environment in India and the requirements to promote further growth.
The programme, to be held at Vigyan Bhawan, is aimed at promoting bank financing for start-up ventures and offering incentives to boost entrepreneurship and job-creation.
The Prime Minister Narendra Modi will visit a virtual exhibition and interact with start-up entrepreneurs at the event. He will release the Start-up Action Plan, and address the gathering.
In a session called “Face-to-face with policy-makers”, secretaries of ministries and departments concerned will respond to queries on how an enabling ecosystem for start-ups could be created.
“The objective is to reinforce the commitment of the government towards creating an ecosystem that is conducive for growth of start-ups,” the PMO said.
The event will be telecast live in IITs, IIMs, NITs, IIITs and central universities and in over 350 districts of India.
At 10:40 AM
Finance Minister Arun Jaitley speaking at Start Up India said, “We ostensibly broke away from “license raj” in 1991, conceived with idea that Government will decide which businesses can run.”
He further said that the PM’s own idea was that start ups need to be encouraged. Both the banking system and government will make the resources available.
“Start-Up India will change conventions. Government will merely be a facilitator for start-ups,” said Jaitley.
He added, that they are fully conscious of the adverse situation in which they are struggling to keep respectable growth rates in Indian economy
“World universally recognises us as probably fastest growing amongst the major economies, but then we are not without our own challenges,” he said.
We can take a limited satisfaction, that even in a crisis like situation in the world, we are growing much faster-FM
“Our effort over last few years was to restrict role of States in policy domain”, he said.