Indian Govt to enhance start-up ecosystem to inspire youth

Adequate capital, courage and connecting with people are required for excelling in the start-up sector.  There was a time when start-ups meant only digital and tech innovation. Things are changing now.

We are seeing startup entrepreneurs in different fields, said Prime Minister Narendra Modi. Happy to see that India’s youngsters becoming job creators, Modi said that the Government is committed towards harnessing the demographic dividend. The Prime Minister further said that adequate capital, courage and connecting with people are required for excelling in the start- up sector. Modi said that things have changed from the time where start-ups meant only digital and technology innovation. He said that now there are start-up entrepreneurs in many fields.

Explaining the steps taken by the government to make India’s start-up ecosystem robust, Modi said that the Government-e– Market Place (GEM) has been linked to Start-Up India portal so that start-ups can sell their products to government. Start-Ups have been given income tax exemption for three years. Six labour laws and three environmental laws have been changed so that young entrepreneurs need to provide only self-certification. Government has also started a one-stop digital platform called Start-Up India Hub where all information regarding start-ups and its ecosystem is available for entrepreneurs.

These developments have lifted the spirits of seasoned entrepreneurs and innovators like fintech czar Jignesh Shah who dreamt and worked on the Make in India model in the mid-1990s. Jignesh Shah’s entrepreneurial journey has exhited and inspired millions of young entrepreneurs of India provoking them to work for India’s growth through start up models.

Jignesh Shah, who, as a visionary entrepreneur, has not only empowered the Indian financial market infrastructure on the lines of Tokyo and US,  has put India on the global map by setting up exchanges across continents right from.

Africa, to Middle-East, to South-East Asia. His strategies and initiatives brought in immense development in the FinTech industry and generated several new openings for India’s growth. Jignesh Shah’s companies like MCX had generated a million jobs in the exchange eco system as documented by a nationwide survey by the Tata Institute of Social Sciences.

Jignesh Shah himself wants to focus his time and energies on mentoring young entrepreneurs with innovative ideas so that they can live their entrepreneurship dreams and also generate millions of jobs and platforms for “institutionalization, globalization and scaling up” of their ventures.  Jignesh Shah believes that the entrepreneurs hold the key to turn around the Indian economy in an upward spiral.

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