India to be Global Hub of Start-Up Community: Union Minister Suresh Prabhu

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Suresh Prabhu releasing the first State of Indian Start –up Ecosystem 2018 report

Union Minister of Commerce & Industry and Civil Aviation, Suresh Prabhu launched a report on the State of the Indian Startup Ecosystem-2018 by Inc 42 which is an Indian information platform known for its coverage of the Indian startup ecosystem in New Delhi on Friday.

Suresh Prabhu Said, “Indian startups have the capacity to bring about transformational change to India’s growth story. The Commerce & Industry Ministry is taking many initiatives to foster a positive and empowering ecosystem for startups to grow and flourish in the country. Many regulations which were in place for traditional industries are now being reviewed and either scrapped or modified in order to facilitate the ecosystem which will foster and encourage startups to take root in India.”

Prabhu also said that the Ministry is holding a global investors meeting next month in India where top investors are being invited to participate in a roundtable meeting in order to pave the way for greater investments in Indian startups.

Suresh Prabhu referred to the jump that India has made in the Ease of Doing Business rankings and said that all efforts are now being made to ensure that India joins the group of countries in the top 50.

“Change is the new constant in today’s world and the youth of India have within them the grit and determination to create positive change through new ideas which will benefit citizens of not only India but bring about positive change globally,” Suresh Prabhu said.