New Delhi [India]July 4 (ANI): Union Minister Piyush Goyal has said that the scale of India’s economy and market potential have played a key role in enabling startups to flourish in the global startup ecosystem.
Addressing the ‘Startup 20 Summit’ in Gurugram, Haryana on Tuesday, Union Commerce and Industry Minister Goyal said that there should be a global effort to foster an inclusive, supportive and sustainable startup ecosystem in all parts of the world to address global challenges. Needed
Goyal said that supporting innovation and startup ecosystem is not only the role of individual countries but a collective responsibility of all countries.
Highlighting the importance of discussion on Startups in G20, the Minister said that the focus should be on exchange of ideas, best practices and facilitating funding mechanisms and promoting cooperation in R&D.
The Minister appreciated the ‘Startup20 Engagement Group’ and said that this amalgamation of diverse experiences and knowledge aims to promote collaboration and bridge the gap between the countries.
Goyal hoped that the participants, both local and international, would leave with valuable memories, learnings and connections to take their startup journeys forward and contribute to the growth of the entrepreneurial community in their respective countries.
The Minister said that India is happy to engage with its partner countries through Startup20 and is committed to sharing experiences and working together to encourage a new generation of job creators.
Piyush Goyal pointed out that India is in a unique position due to its demographic dividend with vast talent and skill set which is attractive to startups.
The minister further said that India, a relatively new entrant in the startup ecosystem, has already become the third largest startup ecosystem in the world. He said that in the last seven years, India’s 100,000 registered startups including more than 100 unicorns have contributed significantly and created employment opportunities in various sectors like healthcare, finance and agriculture. (ANI)
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