The Indian government is once again taking a bold step towards supporting the country’s growing startup ecosystem. In a recent statement, the Union Commerce and Industry Minister Piyush Goyal announced plans to create a separate pathway under the Export Promotion Mission for startups. This move is expected to provide much-needed support and opportunities for young and innovative startups to expand their business globally.
Speaking at a virtual event organized by the Indian Chamber of Commerce, Goyal emphasized the government’s commitment to promote entrepreneurship and facilitate the growth of startups. He said, “Our startups have immense potential, and the government is committed to creating a conducive environment for their growth. We are looking at creating a separate pathway for startups under the Export Promotion Mission, which will help them showcase their products and services on a global platform.”
This new pathway will be a part of the ambitious Export Promotion Mission (EPM) that was launched by the government last year. The EPM aims to boost India’s export growth and make the country a significant player in the global market. It provides a platform for Indian businesses to showcase their products and services to potential buyers and investors from around the world.
With the inclusion of startups in the EPM, the government is not only recognizing their potential but also acknowledging their role in boosting the country’s exports. This move will provide startups with a level playing field with established companies and enable them to explore new markets and opportunities. It will also provide them with access to resources, technology, and networks that are crucial for their growth and expansion.
The announcement has sparked excitement and enthusiasm among the startup community in India. The country has witnessed a significant rise in the number of startups, especially in the technology sector, in recent years. However, the lack of adequate support and infrastructure has hindered their growth and prevented them from reaching their full potential.
The government’s decision to create a separate pathway for startups under the EPM is a step in the right direction. It will not only provide startups with a platform to showcase their products and services but also help them in building their brand and establishing their presence in the global market. Moreover, it will encourage more entrepreneurs to come forward and pursue their dreams of building successful startups.
The Union Minister also mentioned that the government is working towards simplifying export procedures and reducing compliance costs for small businesses. He stated, “We are committed to making it easier for startups to export their products. We are working on simplifying export procedures and reducing compliance costs for small businesses. This will not only boost exports but also create more job opportunities and contribute to the country’s economic growth.”
The government’s support for startups is not limited to creating a separate pathway under the EPM. It has also launched several initiatives such as Startup India, Digital India, and Atmanirbhar Bharat to foster innovation and promote entrepreneurship in the country. These initiatives have already started to bear fruit, with India ranking third in the world for the number of startups.
In conclusion, the Indian government’s decision to create a separate pathway under the EPM for startups is a significant step towards empowering young entrepreneurs and boosting the country’s export growth. It is a testament to the government’s commitment to promoting a culture of innovation and entrepreneurship in the country. With the right support and opportunities, Indian startups have the potential to become global leaders in their respective fields and contribute significantly to the country’s economic growth.
