SME Times News Bureau | 16 Nov, 2018
have the capacity to bring about transformational change to India’s growth
story, said Union Minister of Commerce & Industry Suresh Prabhu, in New
Delhi on Friday.
Speaking at the
launch of a report on the State of the Indian StartupEcosystem-2018 by Inc 42,
Prabhu said that the Commerce & Industry Ministry is taking many
initiatives to foster a positive and empowering ecosystem for startups togrow
and flourish in the country.
To this end many
regulations which were in place for traditional industries are now being
reviewed and either scrapped or modified in order to facilitate the ecosystem
which will fosterand encourage startups to take root in India, he added.
Prabhu said that
the Ministry is holding a global investors meeting next month in India where
top investors are being invited to participate in a roundtable meeting in order
to pave the way for greater investments in Indian startups.
He referred to the
jump that India has made in the Ease of Doing Business rankings and said that
all efforts are now being made to ensure that India joins the group of
countries in the top 50.
In his address,
Prabhu said that change is the new constant in today’s world and the youth of
India have within them the grit and determination to create positive change
through new ideas which will benefit citizens of not only India but bring about
positive change globally.