Union Minister of Commerce & Industry, Mr. Piyush Goyal, has set an ambitious target for India’s startup ecosystem, aiming to increase the number of government-registered startups to one million in the next decade. With the government's continued support and the success of Startup India initiatives, India has already witnessed remarkable growth in entrepreneurship, surging from just 450 registered startups in 2016 to 1,57,000 today.

Launched on January 16, 2016, the Startup India initiative has played a crucial role in nurturing innovation, business expansion, and job creation. Under this program, the government has introduced key financial assistance measures, including:

• Fund of Funds for Startups (FFS): Designed to provide capital to startups through various venture capital funds.
• Startup India Seed Fund Scheme: Supports early-stage startups with necessary funding to develop and scale.
• Credit Guarantee Scheme for Startups: Facilitates easy access to collateral-free loans for startups across sectors.

These initiatives have transformed India's startup landscape, making it one of the fastest-growing startup hubs in the world. The government is committed to strengthening the regulatory framework, providing financial support, and enabling startups to scale their businesses efficiently.

India-Israel Business Collaboration

Beyond fostering domestic entrepreneurship, India is actively enhancing international business collaborations. At the India-Israel Business Forum, Mr. Piyush Goyal emphasized the vast investment opportunities available to Israeli businesses in India. Given India's expanding domestic market of 1.4 billion people, global investors are increasingly eyeing the country as a lucrative destination for technology, manufacturing, healthcare, and defence investments.

A high-level Israeli delegation led by Minister of Economy, Mr. Nir M Barkat, engaged in discussions on strengthening bilateral trade and boosting technological cooperation between the two nations. Despite a temporary decline in bilateral trade in 2023-24, Israeli investments in India have grown steadily, particularly in:

• Renewable energy projects
• Water technology solutions
• Defence and security innovations

Meanwhile, Indian companies have also expanded their presence in Israel, particularly in sectors such as pharmaceuticals, Information Technology (IT), and infrastructure development. The ongoing discussions at the forum are expected to unlock new trade opportunities and enhance technology-driven investments between the two nations.

India’s vision of reaching one million startups is aligned with its broader goal of becoming a global innovation hub. By fostering domestic and international collaborations, offering financial incentives, and supporting entrepreneurs at every stage, India is positioning itself as a leader in the global startup ecosystem.

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