Telangana shows the start-up path

The first South Asian edition of the Global Entrepreneurship Summit, 2017, co-hosted by the US Department of State and Niti Aayog, has been a runaway success.

Published: 02nd December 2017 04:00 AM  |   Last Updated: 02nd December 2017 01:37 AM   |  A+A-

The first South Asian edition of the Global Entrepreneurship Summit, 2017, co-hosted by the US Department of State and Niti Aayog, has been a runaway success. Commentators cautioned that the excitement surrounding White House adviser Ivanka Trump’s first visit to host city Hyderabad may cloud the objective of the summit, which was to persuade youngsters to innovate instead of chasing run-of-the-mill jobs.

The three-day event that attracted 1,500-odd delegates and 300 investors from 150 countries, offered new opportunities for forging partnerships, and importantly, for highlighting entrepreneurship as a means to tackle intractable global challenges like women’s empowerment, climate change, water conservation and waste management.

But the biggest takeaway is, it cast the spotlight, rightly so, on the changing ideology of governments to look beyond the traditional growth veins and engines of job creation. Economic growth moves in cycles of fad and fashion. Take the IT sector that once delivered astronomical growth. It now seems to be out of ammo and as history suggests, no rally lasts forever. In 2009, the US made entrepreneurship promotion a goal of American foreign policy. Even prior to that, entrepreneurship has been one of the most-potent aspects of brand US, with Silicon Valley as the innovation hub. Its impact spread throughout and entrepreneurship is now seen as a development tool to empower marginalised groups.

Start-ups are the cornerstone of PM Narendra Modi’s high-growth agenda. The Startup India programme includes a string of tax breaks, and allows easier exit. A `10,000-crore fund of funds was floated, but its progress leaves much to be desired. Since its announcement in 2015, just about `600 crore was disbursed to over 75 startups till October 2017. The Centre and states must match their words with deeds and create a conducive atmosphere for promoting entrepreneurship. In this respect, the newest state in India, Telangana has shown the way with its innovative T-Hub.

Stay up to date on all the latest Editorials news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.