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Piyush Goyal chaired the first meeting of National Startup Advisory Council (NSAC)

Saransh Pandey

  • April 19, 2021
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    In his inaugural address, Goyal said that this council shall act as the guiding light for many budding startup entrepreneurs in India.

Trade minister Piyush Goyal chaired the first meeting of the National Startup Advisory Council (NSAC) set up to advise the government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country. 

In his inaugural address, Goyal said that this council shall act as the guiding light for many budding startup entrepreneurs in India. He said that this is the first time in our nation’s history where such a high-powered team of people from the private sector and the government have come together so that they take their own policy decisions. 

Department for Promotion of Industry and Internal Trade (DPIIT) in January had constituted the Council to drive sustainable economic growth and generate large-scale employment opportunities. Besides the ex-officio members, the council has a number of non-official members, representing various stakeholders such as founders of successful startups, veterans who have grown and scaled companies in India, persons capable of representing the interest of investors into startups, persons capable of representing interests of incubators and accelerators, representatives of associations of stakeholders of startups and representatives of industry associations. 

Appreciating the work done by the startups in all sectors, for finding innovative solutions to various problems, Goyal said that India is the hub of innovation and out-of-the-box thinking. He said that the Startup movement has stirred entrepreneurial spirit in the last five years. 

Describing the startups as the new champions of Aatmanirbhar Bharat, Goyal said that India has the potential to become the world’s largest and most innovative startup ecosystem. He said that the government has and will always be a supportive partner in charting the progress of the Indian startup ecosystem. He also called upon the successful entrepreneurs to take initiative to share their knowledge, experience, ideas and mentor students and youth. He said that there are innovative ideas with people in rural India and Tier II and Tier III towns waiting to be harnessed. 


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