Union Minister of State Dr Jitendra Singh said, India is emerging as world’s preferred Start-Up destination due to its vast unexplored potential coupled with ease of business and regulatory environment provided by Prime Minister Narendra Modi.
Dr Jitendra Singh was speaking as chief guest at “India First Tech Start-Up Conclave-2022” and Awards Summit. He said, the robust ecosystem of Start-ups will play a critical role in ensuring that India achieves its goal of $5 trillion economy by 2025.
Dr Jitendra Singh said that in 2016 itself, Prime Minister Modi had announced from the ramparts of the Red Fort about the Start-Up initiative, followed by Stand-Up India and several such visionary initiatives.
He said, due to various schemes, focus and support system provided by the Prime Minister Narendra Modi, 10,000 Start-Ups got registered in India in 2021 alone. He said, India now has 50,000 plus start-Ups providing more than 2 lakh jobs in the country.
Dr Jitendra Singh said, the recent General Budget of 2022-23 is a “Futuristic Budget with scientific vision and Start-Up incentives”. The Minister said that announcements of innovative new initiatives like Digital Rupee, Digital Banking units in 75 districts, Digital University and Start-Ups linked to Artificial Intelligence, Space Technology, and Drone Shakti are examples of digital push and innovative ecosystem that the government wants to promote.
He said, exemption of tax for Start-Ups up to 2024 and other incentives for domestic and export sectors will enable India to take a lead in Start-Ups in the World.
Dr Jitendra Singh said, the growth of investment opportunities in tech start-ups in sectors such as state services, healthcare, agriculture, financial services, education, retail, and logistics can generate a huge number of job opportunities and contribute to India’s economy.
He, however, said that sectors like Dairy, Telemedicine and Deep Sea Ocean Mission must be fully tapped. He said, government is extending full support to promote domestic manufacturing, industry-led research, and the creation of a skilled workforce
