Union Commerce and Industry Minister to chair National Startup Advisory Council

The Union government on Tuesday, 21^st January 2020 notified the structure of the National Start-up Advisory Council, which will be chaired by the Union Minister of Commerce and Industry. The Council will advise the Centre on steps to be taken to create a strong environment for start-up companies in India.

The committee will have non-official members with a 2-year-term, to be nominated by the Centre. The committee will have members including the founders of successful Indian start-ups, persons with the capabilities of representing interests of investors (into start-ups), incubators and accelerators, veterans, and people representing the association of stakeholders and industries. The nominees of the ministries and organizations concerned, not below the rank of joint secretary will be ex-officio members. World Bank ranked India at the 136^th place in its previous ranking on ‘starting a business’ while and overall rank of 63^rd in the ease of doing business table, the committee will work on the objective to tackle the current ranking of India by taking measures to make it easier to start, operate and grow businesses in the country.

Month: Current Affairs - January, 2020