Startups gaining momentum in India..! States move introducing their own policies

New Delhi, April 30: With the startup culture booming and gaining global popularity, India is marching fast towards becoming one of the fastest growing startup hubs of the world. India, being busy seeking transformative changes in the last four years, continues to see innovation and disruption.

 

 

NITI Aayog CEO Amitabh Kant in a seminar at Australia - India Innovation Opportunities Connect at Sydney, said that innovation is a word that has increasingly evoked more sighs than exclamations across India.

 

“Perhaps now this pall of gloom is set to change. Building a robust innovation ecosystem may soon become the norm rather than an unusual occurrence”, he added.

“At the core of the Startup India programme are the state startup policies, which the states have started to take seriously under the overview and guidance of Department of Industrial Policy and Promotion (DIPP) and the Centre. Before Startup India was launched, just four states had their startup policies in place and today, 24 Indian states have introduced their own policies”, he added.

Meanwhile stressing at the progress chart needed ahead, he said that there are a plethora of issues such as pending policies, angel taxation, infrastructural and bureaucratic hurdles that startups still have to face and need to be resolved at the earliest.

 

“Amid the good and the bad, the Indian startup ecosystem continues to grow manifold and carve out an ever-expanding niche for itself in the global ecosystem”, he signed off.