Start-ups can be more successful with less govt interference: Piyush Goyal

Union Minister of Commerce and Industry Piyush Goyal on Sunday said that the less the government interferes in the start-up ecosystem, the more potential it will have to be successful.

While addressing a gathering during a visit to the Science and Technology Park in Savitribai Phule, Pune University, the Union Minister highlighted that the reason why the IT sector is so successful in India is that the government has no role to play.

"I personally feel that the less the government interferes in the start-up ecosystem, the more potential it will have to be successful. Nationalisation has stymied the growth of several sectors. Look at IT sector, it is successful in India because the government has no role to play. If I take list of unicorns, almost none of them have taken the government's support to become unicorns," he added.

 

"Wherever the government got involved and we saw the nationalisation of so many different businesses and sectors in the past years has stymied the growth of those sectors," he emphasised.

The Union Minister further said, "If we allow entrepreneurs to flourish, with the least amount of government interference, they can scale in their operation and come up with affordable and cost-effective solutions. They will improve their design and quality. If we really want this ecosystem to survive then we have to let it work its own."

"If I make a list of unicorns, almost none of them have taken government support to become unicorns," he added.

He also said that 46 per cent of start-ups registered with DPIIT have women as part of the ecosystem. He hoped that women will lead the Start-up culture in Maharashtra.

He further said, today we have a startup ecosystem across the length and breadth of India. "More than 50000 start-ups have been registered in India. It is the third-largest ecosystem in the world."

Informing that as per DPIIT registrations, Pune has 3200 Start-ups whereas Mumbai 3274 Start-ups, Minister suggested that this healthy competition between Pune and Mumbai should continue.

Recalling the contribution of social reformer and educationist Savitribal Phule, he said that Savitribai had started the first girls school in Pune, so it is befitting that women entrepreneurs showcase their work in this Science Technology Park in Pune.

Comparing incubators with parents, the minister added that they are like guides and supporters that start-ups need. Describing Pune's unique position to support start-ups due to the presence of industry, IT and finest academic institutions, Goyal added that it is time to increase international collaboration in start-up ecosystem.

He expressed the need for collaboration of Academia, industry and research for the thriving of Startups.

He concluded that India may have a billion problems but it also has brilliant billion entrepreneurs to solve these problems with extremely cost-effective solutions for farmers, Divyang and the poor.