Union Minister Piyush Goyal commends startup progress in India

New Delhi [India], January 16 : Union Minister of Commerce and Industry Piyush Goyal lauded the indispensable role startups play in India's ambitious journey towards becoming a developed nation by 2047.
According to a press release by the Ministry of Commerce and Industry, during the Startup Awards and State Ranking Awards function, Goyal highlighted the substantial strides made in the startup sector over the past eight years, emphasizing its transformation from a novelty to an integral part of the national mainstream.
The Minister commended startups across diverse sectors such as MedTech, FinTech, AgroTech, aviation, drones, and simulators, recognizing their significant contributions.
A notable focus was placed on the untapped potential within the tourism sector, with Goyal encouraging startups to explore innovative ideas for sustainable tourism, according to a press release.
The Minister drew attention to the 'Wed-in-India' initiative proposed by Prime Minister Narendra Modi.
Expressing his confidence in the entrepreneurial spirit across generations, Goyal urged individuals to contribute their unique perspectives to the startup ecosystem, aligning with the nation's emphasis on New Age Skills, Futuristic Tech, AI, and Innovation.
He underscored that age should not be a barrier to engaging with new ideas and fostering innovation.
Goyal encouraged individuals of all ages to actively participate in the startup ecosystem, emphasizing that every person possesses the potential to contribute to India's growth, according to a press release.
India, now the third-largest global startup ecosystem, has witnessed the realization of countless entrepreneurial dreams, bringing innovative ways of doing business to the forefront.
Goyal expressed his appreciation for the achievements in sectors such as millet and food processing and urged startups to shift their focus to new areas, particularly artificial intelligence (AI).
He encouraged startups to develop ideas that simplify life and revolutionize existing ways of working.
Key initiatives were outlined by Goyal to further support startups, including categorizing startups into different sectors for more focused interactions, sanitizing data to track their development stage, and ensuring all startups are registered on the Department for Promotion of Industry and Internal Trade (DPIIT) portal, according to a press release.
The Minister called for greater collaboration and mentoring through the MAARG portal (Mentorship, Advisory, Assistance, Resilience, and Growth of Startup India).
He emphasized the importance of outreach and onboarding startups with the Government e-marketplace (GeM), noting the simplified onboarding process.
Goyal encouraged startups to register for patent, copyright, and trademark protections, as the fees have been reduced for startups.
Goyal announced the upcoming 'Startup Maha Kumbh' scheduled for March 2024, showcasing the government's continued support for the startup ecosystem.
He invited entrepreneurs to leverage India's vast consumer market and work collaboratively towards transitioning from an emerging to a developed startup system, according to the press release.
In addition to celebrating the broader achievements of the startup ecosystem, the State Startup Ranking Framework 2022 results were announced during the ceremony.
States were acknowledged for their performance, leadership, and emerging ecosystems in fostering startups.
In Category A States (Population more than 1 crore), Gujarat, Karnataka, Kerala, and Tamil Nadu secured top positions as the best performers, with Maharashtra, Odisha, Punjab, Rajasthan, and Telangana recognized as top performers, according to a press release.
Andhra Pradesh, Assam, Madhya Pradesh, Uttar Pradesh, and Uttarakhand were categorized as leaders, while Bihar and Haryana were acknowledged as aspiring leaders and emerging ecosystems included Chhattisgarh, Delhi, Jammu and Kashmir.
For Category B States (Population less than 1 crore), Himachal Pradesh stood out as the best performer, followed by Arunachal Pradesh and Meghalaya as top performers.
Goa, Manipur, and Tripura were recognized as leaders, while Andaman and Nicobar Islands and Nagaland were acknowledged as aspiring leaders, and emerging ecosystems included Chandigarh, Dadra and Nagar Haveli and Daman and Diu, Ladakh, Mizoram, Puducherry, and Sikkim, according to a press release.
With the startup ecosystem at the forefront of India's economic growth, the collaborative efforts led by the Ministry of Commerce and Industry aim to create a vibrant and sustainable entrepreneurial environment for the nation's startup community.
The 'Startup Maha Kumbh' in March 2024 is poised to be a significant milestone, symbolizing the government's commitment to fostering innovation, technology, and entrepreneurship in India.