Prime Minister Narendra Modi will this December make a series of announcements on ‘Start-up India’ so as to give further policy push to the Start-up ecosystem in the country.

‘Start-up India’ initiative was announced by Modi in this year’s Independence Day speech to encourage entrepreneurship among the youth of India.

Theimportant announcements in December would relate to how India will take forward its entrepreneurial ecosystem in the coming days, Jayant Sinha, Minister of State for Finance, said in his address at the TiEcon Delhi 2015 event in the Capital on Saturday.

“This government is deeply committed to encouraging start-ups. We have already done more in the last fifteen months than what the previous government had done in ten years”, Sinha said.

The upcoming announcements will ensure that India as regards start-ups will be the best country in the world, he added.

‘Best time for entrepreneurs’ Sinha highlighted that this was the best time ever to become an entrepreneur in India.

“Good news in India is we have had wave after wave of innovation. That is very encouraging for policymakers.

“In all these waves, this is the most fascinating wave of innovation that is happening. The market opportunity is vast and all the resources need to build large scalable businesses are at hand right now”, he said. Sinha said the covernment is working hard to help start-ups establish business, provide assistance in financing (like Mudra Bank) and foster innovation through innovation labs and university research.

He also said that ‘Digitising India’ (not just ‘Digital India’) is opening up opportunities across the economy that was unprecedented.

Using a cricketing analogy, Sinha said the government’s job was essentially to ensure that the grass is green in the playing field, the pitch has been properly rolled and act as umpires to say so and so is run out or leg before wicket.

“However, at the end of the day, as players, you have to score the centuries and you have to take the wickets. We are there to support you and encourage you to make it happen.”

Responding to queries on the inordinate delays in service delivery of government departments, Sinha said that the government was committed to improving the ease of doing business in India.

“Stay tuned”, Sinha said when a delegate pointed out that it was taking about two months to incorporate a company in India. This is the situation in India when countries like the UAE were handing out certificates of incorporation on the same day itself, this delegate said.

BusinessLine is the print media partner for the two-day TiEcon Delhi 2015 that commenced on Friday.

Earlier in his address, Sinha advised start-ups to use India as “springboard” to serve the global markets.

He said the world was awash with capital and would not be right to say there is lack of capital to support entrepreneurial ventures. “If you are not getting fully funded, then you should look within and make sure the enterprise is creditworthy and worthy of getting capital,” Sinha said.

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