Prime Minister listed the initiatives taken by the government of India to encourage start-up ecosystem in India and explained schemes that encourage business in India.
Making his inaugural address at the ongoing Global Entrepreneurs Summit in Hyderabad, he said that “the theme, ‘women first, prosperity for all’ makes this edition of GSE stand out.
He said that the power to think differently & ahead of the time for the betterment of mankind is what sets entrepreneurs apart. He invited Entrepreneurs to invest in India and Make in India.
“My government has eased FDI in two crucial sectors. Smartphone users in India projected to grow to 580 million by 2018, offering opportunities for job creation. We have launched ‘AIMtoInnovate’ with over 900 Atal Tinkering Labs to promote a culture of innovation among children.
Start-up India is a comprehensive action plan to provide support to startups. More than 70 million loans have been transferred to Women Entrepreneurs. BHIM app processing 280,000 transactions daily. Each of you young Indian entrepreneurs have the ability to create a New India 2022, he said.
“I see 800 million potential entrepreneurs in India who have the capability of making the world a better place to live, says Modi at GES 2017. The startup India scheme is a plan to boost those innovations and young entrepreneurs,” he added.
“India has improved the ease of doing business index in three years gives credit to schemes launched by his government, the prime minister said.
The Prime Minister further said that “numerous incubation centres have been created in various universities to nurture innovative startup ventures to become scalable and sustainable.”
“Through Jan Dhan Yojana and direct transfer scheme the government has brought informal sector into the banking system,” he said.