In a major step to boost entrepreneurship in India, the Narendra Modi-led government has planned a live session to take on questions from the public. The session organised on Twitter, will see commerce and industry minister Suresh Prabhu answering select questions, and those interested can send in their questions using the hashtag #AskPrabhu. “Dear friends I will be answering questions on #StartupIndia in a live session on 16th May. Send in your questions using hashtag #AskPrabhu .Select questions will be answered. Look forward to a fulfilling engagement,” Commerce and Industry minister Suresh Prabhu tweeted.
Dear friends I will be answering questions on #StartupIndia in a live session on 16th May. Send in your questions using hashtag #AskPrabhu .Select questions will be answered.Look forward to a fulfilling engagement pic.twitter.com/dawlcla40d
— Suresh Prabhu (@sureshpprabhu) May 11, 2018
According to a PIB release the live session will be held on Wednesday, 16th May at 4.30 pm on Suresh Prabhu’s social handles – Twitter and Facebook, along with Startup India’s social handles – Twitter, Facebook and YouTube. “Union Minister of Commerce and Industry, Suresh Prabhu will address the Start up community by answering questions on Startup India. The objective of the live session is to address concerns and elaborate on the support which they can seek from Startup India.”
According to a recent survey conducted by Entrepreneurship Development Institute of India, only 5% Indian adults take-up establish own business, underscoring that the Narendra Modi-led government’s dream to transform India into a hub of start-ups and innovation remains elusive. The recent survey further highlights that only 11 per cent of India’s adult population is engaged in “total early-stage entrepreneurial activity (TEA).”
Entitled Global Entrepreneurship Monitor (GEM) India Report 2016-17 says that the 5 per cent rate is among the lowest rates in the world even as business discontinuation rate remains one of the highest in the globe at 26.4 per cent. Laying emphasis on creating homegrown entrepreneurs, the Narendra Modi-led government had launched a Startup India campaign in January 2016 which provided various incentives such as tax exemptions, patent reforms, and incubation programmes aimed at providing the much needed thrust to start-ups. However, the survey’s lacklustre numbers may serve as a wake-up call for the government.