What does the industry expect from the government's start-up policy

Startup India will boost economy, open up job avenues

Prime Minister Narendra Modi will unveil a full action plan of the ‘Start-up India, Stand-up India’ programme tomorrow. The initiative is aimed at providing entrepreneurs fresh impetus at the grass-root level. Here are a few reactions from the industry a day before the policy:

Saurabh Shrivastava

Saurabh Shrivastava, chairman of  Indian Angel Network

“India needs 10 million jobs a year and global data shows that it is startups, not large enterprises that create net new jobs in any country. Startups are also the centres of innovation, which India needs to address the critical needs of the country in areas like affordable healthcare, education, financial inclusion, etc. In spite of a hitherto ‘startup unfriendly environment’, Indian entrepreneurs have already made India one of the top 4 entrepreneurial hotbeds in the world. It bodes well for the country that the current government, for the first time in modern Indian history, has understood the criticality of startups for employment and economic growth and has launched 'The Start-up India, Stand up India mission'." 

"This revolution can make us the second largest entrepreneurial hub in the world after the US, take us to double digit GDP growth, eliminate poverty and take India to the position it enjoyed 300 years ago, when it accounted for 25% of global GDP.”

Rajiv Kumar

Rajiv Kumar, CEO and founder of Hippo Innovations
"The startup India initiative aims to make India as the startup capital of the world. The programme will boost the economy, open up job avenues, encourage entrepreneurship on a large scale and leverage start-ups globally."

"With many new e-commerce ventures starting in India, we eagerly look forward to the policy as it will address the problems of technology-based startups and introduce a friendly business climate.”

“It will further drive the country’s economy towards better results. The Startup India program will delve into the issues faced by startups and ease norms for them.”

Puja Bansal

Puja Bansal, founder and director of Myheera.com

“Over the last few years, the startup industry has witnessed a huge growth in the country. I believe, The Prime Minister’s Startup India campaign is a great initiative to boost entrepreneurship in India. This initiative will play a very important role in further facilitating startups and providing a new dimension to entrepreneurship in the country. Firstly, in order to create an environment that is conducive for growth of startups, the government should enable easy availability of loans across the country. Startups can have a more tax-friendly norms to sustain the pressure which sometimes adds heavy to their cost."

"More and more seminars and talks can be arranged to educate the journey that the startup will come across, which can help to bring a lot more awareness to deal with the competition. The government must help startups promote themselves, not just in India but across the globe, as well as create policies that are startup friendly so that Indian startups get a major boost and they can further create better employment opportunities for the youth of the nation.”

Ashish Goel, Founder CEO, Urban Ladder

Ashish Goel, Founder CEO, Urban Ladder "Clarity of listing norms, faster clearances and inclusive growth will encourage entrepreneurs to build innovative businesses. Secondly, there is a need for a seasoned entrepreneur to chair the Entrepreneurial Cell to have a better perspective of the challenges faced and resolve issues faster. Lastly, if India wants to leapfrog and build product startups, there is a need for a high quality design standardisation to instil basic design principles for world class product design. We are positive this initiative will pave the way to create several future global giants from India."