There is a need to give ‘added incentives’ to promote startups: Jitendra Singh

Aamir H Kaki 

There is a need to give ‘added incentives’ in order to promote the environment of startups and entrepreneurship in the country, Jitendra Singh, Minister of State for the Ministry of Development of North Eastern Region (DONER) said on Thursday. 

“The youth will be given incentives if they are starting an indigenous venture such as a startup in the field of traditional art forms,” he said after inaugurating the 4th India International MSME & Startup Expo in New Delhi. 

“Our ministry has set up a venture fund for the northeast region, where if a person wants to start a business, the Ministry of DONER funds that initiative,” he said. 

He suggested that similarly if a person from a State wants to start an initiative, the government of that state would provide ‘added assistance’ in order to motivate that person and to promote the traditional art form. 

Singh emphasized that there is a need to preserve and promote the traditional art forms that have been passed from generations to generations, but he cautioned that now the coming generation is losing interest in these traditional art forms as they are not finding these viable and choosing other professions, like engineering, etc. 

The society, the Government and all the people collectively can change this situation and we have to look into it, he added. 

I have suggested that we can approach the concerned ministries and bring together people towards this issue so that the unique artwork of an artisan gets recognition and we can sustain these unique art forms, Singh said. 

The Minister further said that the current Government, under Prime Minister Narendra Modi, has brought the unique initiative of Start-up India, to promote the entrepreneurship environment in the country. The Government has been providing tax holidays to entrepreneurs who want to start their own work. 

“In addition, there is also exit period provided to the entrepreneurs who are willing to change their business,” he added. 

Speaking to The Dollar Business Rajnish Goenka, Founder Chairman, MSME Development Forum said that main purpose of the Expo is Udyami Bharat ka Nirman (Making Entrepreneurial India). And this is only possible if the youth and people of the country have the entrepreneurship skills.   

Our aim is in sync with the vision of PM Modi to make India an entrepreneurial country, he said. 

“The second purpose of the Expo is to promote MSMEs and to transform job seekers to job creators,” he added. 

On the question of international participation, he said that there are delegations from several countries attending the event. Today, Zimbabwe’s Industry Minister has specially come to attend the event. In addition, Czech Republic’s ambassador too will attend the event. There are delegations from Sweden, Taiwan, etc who will also be attending the event. 

There are around 200-250 exhibitors participating at the Expo, he said while adding, “In order to promote the MSMEs and start-ups, 80% of the stalls at the exhibition are given free of cost to the budding entrepreneurs.” 

The 4th India International MSME & Startup Expo is an annual event, organized by the MSME Development Forum in association with ITPO. It is being held from 24-26 August 2017 in New Delhi. 

This is India’s only international expo for trade, industry, MSMEs, startups to exhibit their products & services, network & find new business opportunities/ideas, market, buyers, sellers, raw materials, JVs, investments & share knowledge about central/state government new promotional schemes, policies & legislations.