Suresh Prabhu, former union minister of commerce emphasized that there a large need for the participation of startups in the core sectors. According to him, startup plays a very important role. It can be the key to the new developed India. Startup Participation a lot when it comes to the growth of the country.
Looking at the current world’s scenario, it is not wrong to say that India needs many startups to accelerate the growth of the nation. Not just the startup, but the importance of startup increase, even more, when it is required in the core sector of the nation. He said that the new companies can play a vital role in the faster economic growth of the country.
He further recommended that a suitable environment should be created for the new companies to grow. There should be many facilities available for the entrepreneurs so that they can reach the right audience. There should be a transparent process mechanism that will help the new-age companies to grow.
Startup Participation : Suresh Prabhu
In his speech, he also said that new startups are not similar to the startups that happened in the past. Hence there is a need of changing the regulations for the new companies. Providing relaxation in the regulation can make the new companies confident and contribute to the economic growth of the company. There should be a new ecosystem for the new startups, he added further.
Suresh Prabhu spoke about the importance of startup at Zetwerks Dialogue which was a program of public advocacy that aimed at increasing the opportunities awareness in India’s industrial ecosystem.
He said that new startups cannot be based on old ideas. There is a need of interacting and understand the demands of startup companies. Also, there should be a transparent ruled-based process to enhance the working of the new innovative companies.
He added that the vaccine drive is picking up the pace that will accelerate the growth rate of India by reviving the businesses and startups. So, it is the right time to make some reforms in the regulations of a startup.