Speaking at the inauguration of annual venture capital summit in Panaji, Goa, on Friday (7 December), Union Minister of Commerce & Industry Suresh Prabhu emphasised that the culture of startups are essential for the economic growth of a country.
Furthermore, he declared that Goa will be the permanent venue for Annual Global Venture Capital Summit.
From here on, the summit will be organised on the first Friday of every December. In India, more than twenty states have a startup policy and has led to India becoming the top investment destination in the entire world.
He said that technology can help address the agricultural issues that pertain in the country. So far he claimed, it is the infrastructural sector that has been performing very well.
PIB in its press release said that the dignitaries present on the occasion praised the government for improving the Ease of Doing Business (EoDB), quicker environmental clearances that takes place within 140 days, GST and commercial courts to ensure faster contracts, which has given the required support to startups in India.
So far, about 14,497 startups have been registered with the government.
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