Big boost for start-ups in India! Ecosystem set to improve; know what President Kovind said

Big boost for start-ups in India! Ecosystem set to improve; know what President Kovind said
To improve the start-up ecosystem, the government is simplifying the rules. This campaign will be further expedited. Our goal is to establish 50,000 start-ups in the country by 2024, said President. PTI
Written By: ZeeBiz WebTeam
Updated: Thu, Jun 20, 2019
10:40 pm
New Delhi, ZeeBiz WebDesk
RELATED NEWS
Davos 2020: Income tax cut may boost demand, M&M MD Pawan Goenka on Budget 2020 Davos 2020: Income tax cut may boost demand, M&M MD Pawan Goenka on Budget 2020
Budget deficit goal post should be increased: Vikram Kirloskar, CII Budget deficit goal post should be increased: Vikram Kirloskar, CII
Income tax cut will boost economy; rules need to be relaxed to win investors' trust, says this expert Income tax cut will boost economy; rules need to be relaxed to win investors' trust, says this expert
No harm in investing in mid-caps, small caps, but choose wisely: MOFS' Ramdeo Agrawal No harm in investing in mid-caps, small caps, but choose wisely: MOFS' Ramdeo Agrawal

President Ram Nath Kovind said on Thursday said that the government will take steps to further improve the start-up ecosystem in the country with an aim of having 50,000 such enterprises by 2024. Addressing the joint sitting of Parliament, Kovind said India has joined the league of countries with most number of start-ups in the world. 

1. To improve the start-up ecosystem, the government is simplifying the rules. This campaign will be further expedited. Our goal is to establish 50,000 start-ups in the country by 2024, said President.

2. Start-up India initiative of the government aims at fostering entrepreneurship and promoting innovation by creating an ecosystem that is conducive to the growth of budding entrepreneurs.

3. So far, as many as 19,303 start-ups have been recognised by the department.

4. Since last year, the commerce and industry ministry has started conducting ranking exercise of states and union territories to encourage them take proactive steps towards strengthening the ecosystems within their jurisdictions for budding entrepreneurs.