As Prime Minister Narendra Modi has set the ball rolling with the announcement of his 19-point Startup action plan amid much fanfare, the move aimed at boosting employment generation and wealth creation has generated huge enthusiasm and been largely welcomed by the industry.
As India waits to see much more indigenous innovation in the days to come, here are key VCs, investors and startups reflecting on the various provisions of the Startup Action plan, and how they feel it will impact the startup industry in the recent future. Take a look:
Anurag Avula, CEO and Founder, Shopmatic:
The easing of the financial and labour norms is a fantastic initiative. It encourages new entrepreneurs and start-ups to focus on innovation without having to struggle with additional taxes etc. With progressive initiatives by the Government, India is bound to succeed in its mission to be leading the charge in being the Start Up Capital of the world. Shopmatic started with the intent of helping anyone sell online. Any progressive initiative that benefits business growth for our merchants and individual entrepreneurs, is a step in a positive direction.
Source: Business Insider