India takes inspiration from Silicon Valley

Following his trip to Silicon Valley, India’s prime minister Narendra Modi plans to encourage startups and female entrepreneurs in the country through potential legislation changes.

The Indian government is planning to encourage startups in the country and working on special incentives to promote female entrepreneurs, according to the India Times.

The plans come in the wake of the prime minister's visit to Silicon Valley where, among other commitments, Narendra Modi met Mark Zuckerberg, founder and chief executive of social network Facebook, and visited the respective headquarters of internet company Google and electric car manufacturer Tesla Motors.

The changes being considered include the introduction of flexibility when it comes to hiring and allowing failed startups to wind up faster. Incentives for female entrepreneurs could include preference to their startups in public procurement and ways of making it easier for them to access capital.

Another area being looked at is the regulatory framework for startups. Changes in this area could prevent startups moving to other countries as they become successful.

Jyotsna Sitling, joint secretary in the ministry of skill development and entrepreneurship, said: "Women can make a big impact in the economy, so we are looking at a slew of steps to help them start up, such as making incubators and accelerators gender-neutral, facilitating access to capital and changing public procurement norms to help such enterprises."

– Photo courtesy of India's government

See more from this Government Report: India


Copyright Mawsonia Limited 2010. Please don't cut articles from or the PDF and redistribute by email or post to the web without written permission.

Most read

  1. News round up 23 April 2018

    April 23, 2018

  2. EU plans massive overhaul of funding services

    April 25, 2018

  3. DocuSign seals $629m IPO

    April 27, 2018

  4. Investors fork over $30m to Formlabs

    April 27, 2018

  5. Mubadala backs New York’s Phoenician Capital

    April 27, 2018