Speed Post News Network
New Delhi : Union Commerce and Industry Minister Piyush Goyal on December 8, 2020, said that the Government, in its role as an enabler, has introduced several benefits to encourage and boost startups. Addressing the ICAI’s Startup Manthan 2.0, Goyal said that the Government is constantly providing inputs and impetus to the Startup ecosystem to help them expand their base.
Talking about the support to startups, Goyal said that this includes tax benefits. “ The Government has created a fund of funds for Startups with an initial corpus of Rs 10,000 crore for funding promising Startups in their early-stage funding requirement. The Government e-Marketplace provides an equitable opportunity to Startups to offer their services and products to all Govt enterprises across the country,”, he added, according to a PIB release
Goyal said that today India is set on the path of becoming self-reliant and startups are leading the way. “We are at the critical juncture of human history where our actions shall directly impact billions of people. Our entrepreneurs can create a golden era where our startups with their commitment, vigour and perseverance make India a leader across all sectors. As the Startups work hard, we will support them in their endeavour,” the minister said.
Goyal said that Creativity, Innovation, Invention & Development is the foundation and mandate of New India. “In this new normal, we need long term sustainable solutions to become self-reliant. We had launched Startup India initiative in 2016 to create an ecosystem of innovation, invention and enterprise. India now houses the 3rd largest startup ecosystem in the world.”