Providing 'conducive policy environment' for success of start-ups: Minister

Union Minister Ravi Shankar Prasad on Tuesday said the central government is providing a "conducive policy environment and a favourable investment climate" to ensure the success of the start-up movement in India.

Speaking at the National Stock Exchange of India's Tech Conclave here, the Minister said: "India's startup ecosystem may not be as old as that of some developed economies of the world, but as a power house of IT and IT-enabled services, we are steadily outpacing all of them. This transformation also provides an opportunity to all our young entrepreneurs, who should look to develop solutions to problems that the common man faces."

"They should innovate to deliver health solutions to the poor, to provide clean drinking water to the marginalised and to provide education to all -- that's when we will succeed as Team India. At its end, the government of India is providing a conducive policy environment and a favourable investment climate to ensure the success of the startup movement in India."

According to the NSE, the idea behind the conclave was to create a conducive capital market ecosystem and "address the opportunities and challenges that these new-age companies may face in future".

NSE's MD and CEO Vikram Limaye said: "The next wave of start-ups funding requirements should be channelised through the Indian capital market."

"As the torch bearers of Indian capital market, NSE is taking government's initiative forward, with the NSE Tech Conclave.

NSE is committed to supporting innovation by providing a robust fundraising ecosystem. NSE cannot only address start-ups funding requirements across phases but also allow mature start-ups to unlock value and scale their businesses."

--IANS

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)