Government to attend the equity requirements of startups

On the sidelines of an event organized by FICCI, Commerce and Industry Minister Nirmala Sitharaman said that the Startup culture in India is booming and the government is determined to attend to all the needs of these Startups including their equity requirements.

To give impetus to the Startup India initiative by the government, the Department of Industrial Policy and Promotion (DIPP) will work with the banks in both the rural and urban areas. Emphasizing on the condition of Dalits across the country and the need for a culture of Entrepreneurship, the minister said that the banks can play a major role in the giving Startup loans to the Dalits and make them independent in the real sense.

The country is seeing a surge in the number of Startups in almost every sector. The governments recent initiatives like Skill India Mission and Digital India Mission is likely to take the Startup culture to a whole new level.The government’s Startup India initiative is in recognition of the growing entrepreneurial ambition of the ‘Young India’.

Image Credit: wikipedia

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