The centre government is active to organise an undertaking capital fund to promote startups in the North-Eastern states. At the beginning of the ‘Start-Up India 2016’ conference coordinated by ASSOCHAM (Associated Chambers of Commerce and Industry of India), Union Minister of State for Development of North Eastern Region (DoNER), Mr. Jitendra Singh revealed that the North-East states of India have extreme possibility to enter the startup environment. The government is planning to create a venture fund for startups.
So, according to Mr. Jitendra Singh, “India is on the brink of becoming a world power and a large chunk of power depends on its youth which covers 65% of India’s total population and the government is trying different ways to utilize this huge potential of the young generation through the ‘Startup India’ and others. At the same time, as Sikkim was declared as the first organic state of the country thus has opened various new possibilities for farming in other North-Eastern states.
Mr. Jitendra Singh added, “The declaration of Sikkim as the first Organic State of India has opened up new vistas for startup initiatives in organic farming in the northeast.”
The mega Northeast festival will be held in New Delhi’s Pragati Maidan to showcase the North-East states. The minister said that as the world is currently witnessing a sluggish economic growth, Indian startups will play a the role in diversifying and strengthening economy as well as be able to create employment. But startups can grow anywhere only if they are thoroughly guided and mentored which will be possible in a cohesive environment.
Mr. Singh said, “The government’s this new initiative can play a huge catalyst to do so, as the potential of North-Eastern youngsters are yet to be explored.”