First meeting of the National Startup Advisory Council (NSAC)

First meeting of the National Startup Advisory Council (NSAC)

The Union Minister for Railways, Commerce and Industry, Consumer Affairs, Food and Public Distribution, Shri Piyush Goyal presided over the first meeting of the National Startup Advisory Council (NSAC) on 15 April.

On this occasion, the Union Minister of Commerce and Industry called on successful entrepreneurs to guide startups by sharing their knowledge, experience and ideas.

Experts say that as India has the potential to become the world’s largest and most innovative startup ecosystem, startups are being seen as the new winners of self-reliant India.

It may be noted that Prime Minister launched the Startup India campaign from Red Fort in New Delhi on 15 August 2015, to make the country self-reliant and promote entrepreneurship among the youth.

The Union Minister said that, the Startup India program in India has instilled the entrepreneurial spirit in the last 5 years. The Government of India has promoted startups at all levels under the ‘Startup India’ vision and has always been supportive of the progress of the startup ecosystem.

National Startup Advisory Council (NSAC)

  • Department for Promotion of Industry and Internal Trade (DPIIT) had constituted the National Startup Advisory Council in 2021, to advise the Union Government on measures needed to build a strong and robust ecosystem for nurturing innovation and startups in the india to drive sustainable economic growth and generate large scale employment.
  • Its objective is to promote the sustainable economic development in the country and make effective the government’s goal of generating large scale employment opportunities.
  • The National Startup Advisory Council is headed by the minister of commerce and Industry. Additionally, this council consists of both official and non-official members, whose term of office will be for two years.
  • The Council will suggest measures to create intellectual property rights, promote a culture of innovation, encourage domestic costs for investment in startups, and ensure access to global markets for Indian startups.

Advice for, Startup Ecosystem in India

  • The “Startup India” movement has become a symbol of national participation and national consciousness in India. However, experts say, there is a need to encourage entrepreneurship at the school level to encourage students to innovate.
  • Successful entrepreneurs should come forward to share their knowledge, experiences and ideas with students and youth, and also guide students and youth.
  • People have many unique ideas from rural India to cities; they should provide a platform to bring those ideas on one platform.
  • It should be the collective responsibility of all to realize the goals of ‘Startup India: The Way Ahead’ launched by the Prime Minister in January 2021. This will also give ‘Startup India’ a global platform, and create a startup ecosystem in India.

Source – PIB

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