This Independence Day gives a reason to rejoice to the ever growing Indian Startup Ecosystem. Prime Minister Narendra Modi, addressing the nation on the 69th Independence Day, said, “We are looking at systems for enabling start-ups.
We must be number one in start-ups… Start-up India; Stand up India.” Giving a further boost to the startup industry, PM Modi has launched the new campaign – “Start up India, Stand up India” to promote bank financing for start-ups and offer incentives to boost entrepreneurship and job creation.
The initiative, he said, will encourage entrepreneurship among the youth of India. Each of the 1.25 lakh bank branches should encourage at least one Dalit or tribal entrepreneur and at least one woman entrepreneur. Under this, in addition to existing systems to facilitate start-ups, he said loans would also be given to help people.
The initiative will give a new dimension to entrepreneurship and help set up a network of start-ups in the country. As part of the Skill India and Digital India initiative, the Prime Minister also intends to give various incentives to manufacturing units for generating jobs.
“We will have 1.25 lakh start ups, each giving employment to two-three people,” he said. We are hopeful that by providing such a strong support system, the Prime Minister is able to make India reach a milestone in forming startups so as stipulate the whole economy.
VenturEasy strongly believes in “Be Independent and Startup today”!
Nikita Bhatia is the co-founder of VenturEasy, an online platform for Company registration, book-keeping, accounting, tax consultancy and legal compliances in India. A Chartered Accountant and company secretary by profession, she has wide experience in the fields of audit, accountancy, taxation and corporate governance.