PM Modi’s much awaited Silicon Valley visit, is gaining a lot of traction in India given the government’s promise to create an ecosystem that encourages entrepreneurs.
As a boost to the much talked about “Start-up India, Stand up India” slogan, government has set up of a Rs 10,000 crore start-up fund which seeks to promote bank financing for the underprivileged. The aim is to encourage them to participate in the start-up revolution that has caught the imagination of people from even the remote areas.
Indian entrepreneurs have high aspirations from Modi’s US visit and PM Modi needs to make the Silicon Valley giants aware that business is what we seek. One of the ways of having a robust start-up ecosystem is for the country’s education system to effect large-scale change and foster entrepreneurship. Although the government has taken steps towards facilitating entrepreneurship through initiatives like ‘Make in India’, ‘Digital India’ and ‘M-SIPS’. These have already signalled to investors across the world that India is open to change.
Here is what the startup community would like PM Modi to focus on during his visit:
- To showcase the Startup success stories that we have seen in recent times like Flipkart, Ola, Zomato, etc.
- Attract funding for the budding Startup ecosystem
- Visit as many of the large US tech companies and successful start-ups and encourage them to come to invest in India
- Encourage and enable ways to help more green technology companies to be incubated out of India and a rise in investment in this sector
- Make the functioning of startups a smooth ride by bringing in amendments like GST, tax sop for investors and bankruptcy laws
- Give an extension of tax moratoriums for initial few years for the Startups
With these talk points PM Modi is sure to lure the Silicon Valley giants and improve trade relations with them which is much needed for the country.