Want to start-up your business, but unsure about how to proceed? You can get all your doubts cleared, and commerce minister Suresh Prabhu will answer them directly. 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 will be organised on Twitter, 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 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% 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%. Laying emphasis on breeding 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.