Commerce and Industry Minister Piyush Goyal today stated that India provides the right ecosystem for Start-Ups and invited Start-Ups from the developed world to come to India.

Giving the keynote address at StartUp20 Shikhar Summit at Gurugram, the Minister pointed out that India has the advantage of a low-cost ecosystem with huge managerial talent, skills and a young population. He added that India also has the advantage of affordability and is a rules-based economy. He further said that Start-Up culture is prevalent across the country today.

Mr Goyal said Start Ups are changing the rules of the game and a paradigm shift has occurred where job seekers are now becoming job creators. He said it is not desirable for the government to micromanage and regulate the Start-Up ecosystem. He assured that government's role will always be that of a facilitator.

The Minister added that Start Ups should function independently in a robust manner.

The Startup20 Shikhar Summit, organized by the Startup20 Engagement Group under the India G20 Presidency, kicked off yesterday.

The two-day event represents a significant achievement, celebrating the successful completion of Startup20's inaugural year and the release of the final Policy Communiqué. The event marks the first major milestone of the Startup20 Engagement group.

The summit underscores the tremendous potential of startups in driving economic prosperity and societal impact. The Startup20 Gurugram Summit aims to unleash the full potential of startups, propelling economic growth, job creation, and sustainable development.