New Delhi: Commerce and Industry Minister Piyush Goyal said the government will always act as a facilitator to strengthen the start-up ecosystem and not act as a regulator. He said stakeholders of this ecosystem would do self-regulation.
While addressing the Startup20 summit, the minister stated that the message should be conveyed from here is the joint commitment of all the 22 countries, who have participated, that the governments will not attempt to impede the work that start-ups are doing.
He further said the best way is to be out of the start-ups ecosystem, adding that the government is not expected to start regulating, dictating, or micro-managing the ecosystem.
“Our role will always be that of a facilitator, and I do not see the government becoming an administrator or a regulator of this sector,” he said. He added that the government’s job is to give budding entrepreneurs an initial push or early stage finance.
The minister also mentioned that India provides a unique opportunity to the world of startups. Goyal said that India has the advantage of skilled talent, affordability, a growing start-up culture, and an aspirational population.
