Encouraging young talent to see entrepreneurship as a primary career option in the opinion of industry experts and strengthening India’s position globally.
National Startup Day is a validation of the role of startups in the growth of the country’s GDP.
On January 16, Prime Minister Narendra Modi announced that the country will be celebrating National Startup Day, calling startups the “backbone” of New India and the engine that will boost the country’s economic growth in commemoration of its 100th anniversary.
ValPro Director Neha Khanna points out that the startup ecosystem has matured over the past decade and that new-age enterprises are making significant contributions to the economy in multiple ways.
The contribution of start-ups includes a large asset class outside the public market, large FDI inflows, export of goods and services to the country, a large base of retail investors from decently paid employees, and wealth creation tools such as ESOP. It is an important consumer market in the global economy.
Mayank Kumar, Co-Founder and MD, Edutech, said, “India is already a potential powerhouse and this move will inspire millions of people to innovate and find solutions to business and social challenges and thus become a global leader in the country.”
Pranav Dangi, Founder and CEO of The Hosteller, said that National Startup Day will help startups get on their path and bring them to better services with the knowledge that their hard work and creative vision are recognized by the government.
Cheers to small and mid-sized startups, that will benefit greatly. Not only will the startup market in India flourish, but this positive and supportive environment will lead to exponential growth,” he added.
Dhruv Sahni, Business Head, and COO, Nurture. The farm said that Indian youth are now ready to solve problems that previously had no voice or face. Apurva Ranjan Sharma, co-founder and managing director of 9 Unicons, the co-founder of Venture Catalysts, said the startup division has long been plagued by some skepticism from old-school economists.
The startup sector today employs millions of young people. Sharma added that the Startup Wishlist would make it easier to do business with friendly tax policies, time-bound tax credits, refunds, nationally compliant compliance, and government-led neutral funds to support startups operating in the sector. Social influence among others.
Follow and connect with us on Facebook, LinkedIn & Twitter
