Shamit Khemka, Regional Director of Entrepreneurs' Organisation, South Asia, says that the industry is excited and looking forward to the launch of the StartUp India campaign by the PMO.
The government is slated to meet over 40 global entrepreneurs and CEOs in New Delhi on Saturday to discuss the Start Up India agenda in a day long event.
Commenting on the upcoming start-up action plan, Shamit Khemka, Regional Director, Entrepreneurs' Organization, South Asia says, "The industry is looking forward to the launch of the Startup India Campaign by the PMO."
The event will see Finance Minister Arun Jaitley, Secretary DIPP Amitabh Kant, Minister of State for Commerce and Industry Nirmala Sitharaman in attendance.
CEOs like Masayoshi Son and Nikesh Arora from Softbank, Kunal Bahl, CEO Snapdeal, Bhavish Aggarwal, Ola, Deepinder Goyal, Zomato and many more. The session will then be concluded by an interaction between Prime Minister Narendra Modi and start-ups, venture capitalists, angel investors, and with the launch of the Start-up Action plan.
Khemka adds, "There is much excitement about the government's plans and initiatives, specifically the single window clearance for young entrepreneurs, freeing them from compliance burden and giving them easy access to finance, incubation and other benefits.
"The markets for startups has been heating up for three-five years in India now, with several success stories like Micromax, Paytm, Oyo rooms and Ola Cabs. In 2015, the start-up industry received an estimated $4.9 billion – up a whopping 125% from the previous year. Over 71% of these funds went to IT companies. However, about 75% of funded technology startups are re-domiciling outside India due to regulatory irritants."
Khemka says that PM Modi realises that the largest employers in all developed companies are entrepreneurs and small businesses, and "this is a really great initiative to now leverage the budding entrepreneurial climate in India to generate business, jobs and further the economy."
"We are all looking forward to the policy eagerly to see how it will allow us to contribute in our country’s development," he added.
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