India will be Global Hub of Start-Up Community

New Delhi, Nov 16 (UNI) Indian startups have the capacity to bring about transformational change to India’s growth story, said Union Commerce & Industry Minister Suresh Prabhu here on Friday.

‘The Commerce and Industry Ministry is taking many initiatives to foster a positive and empowering ecosystem for startups togrow and flourish in the country, said Mr Prabhu at the launch of a report on the ‘State of Ecosystem Indian Startup Ecosystem’ event and released a report on the same.

The ‘State of the Indian Startup Ecosystem-2018 by Inc 42’ is an Indian information platform known for its coverage of the Indian startup ecosystem.

‘To this end many regulations which were in place for traditional industries are now being reviewed and either scrapped or modified in order to facilitate the ecosystem which will foster and encourage startups to take root in India,’ he said.

The Commerce Minister also said that the Ministry was holding a global investors meeting next month in India where top investors are being invited to participate in a roundtable meeting in order to pave the way for greater investments in Indian startups.

Mr Prabhu referred to the jump that India has made in the Ease of Doing Business rankings and said that all efforts were now being made to ensure that India joins the group of countries in the top 50.

‘Change is the new constant in today’s world and the youth of India have within them the grit and determination to create positive change through new ideas which will benefit citizens of not only India but bring about positive change globally,’ said the Commerce Minister in his address at the event .

The Insides Speak.