Govt Will Be Facilitator For Startups, Not Regulator, Says Piyush Goyal

GURUGRAM: In his address at the Startup20 summit in Gurugram, Commerce and Industry Minister Piyush Goyal emphasized that the government's role is to bolster the startup ecosystem rather than impose regulations. He stated that self-regulation by ecosystem stakeholders is paramount. The Minister highlighted the collective commitment of the 22 participating nations to support the unhindered progress of startup initiatives.

Minister Goyal said, it is crucial for the government to maintain a hands-off approach, refraining from excessive regulation, dictation, or micromanagement of the ecosystem. Instead, the government's role should focus on facilitating and providing initial financial support to aspiring entrepreneurs.

Highlighting India's favorable conditions, Minister Goyal cited skilled talent, affordable resources, a thriving startup culture, and an ambitious population as unique advantages. He extended an invitation to startups worldwide, encouraging them to explore the abundant opportunities available in India.

The Startup20 Shikhar Summit, organized under the India G20 Presidency, commenced on Monday in Gurugram, showcasing the potential for collaboration and growth within the startup community.

In a grand gesture, he extended a warm invitation to startups worldwide, beckoning them to embark on a remarkable journey of exploring boundless opportunities within the captivating realms of India. With utmost enthusiasm, the curtains were raised for the momentous inauguration of the Startup20 Shikhar Summit, a remarkable event orchestrated by the indomitable Startup20 Engagement Group under the esteemed stewardship of the India G20 Presidency. Eager anticipation filled the air as this extraordinary gathering commenced its groundbreaking proceedings on a vibrant Monday, right here in the heart of it all.

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