Entrepreneurship in India is booming: Modi

Prime Minister Narendra Modi today said that Entrepreneurship in India is booming, following a series of steps that have been taken. While addressing the Advancing Asia Summit here today, Modi said India is now fourth in the world in the number of technical start-ups, after USA, Britain and Israel.

He said that given the enormous entrepreneurial potential in the country, his government's motto is Start Up India and Stand Up India.

The budget has provided a further boost to the ecosystem for start-ups, he added.

He was speaking at the three day long Advancing Asia Conference 2016 jointly organised by International Monetary Fund (IMF) and Finance Ministry of India.

He also said that the Government of India has an ambitious agenda for skilling the  labour force.

"Skill creation of the magnitude that we have envisaged, involves institution building, which we have undertaken," added the Prime Minister.

Prime minister pointed that the skill development programme cuts across twenty-nine sectors with a nation-wide coverage.

He said that Make in India can only be successful if we ensure employability of the youth.

“I am very happy that the IMF has decided to finalise the next round of quota changes by October 2017,” he said, a day after his government tabled a supplementary demand of grant of Rs.69,575 crore in parliament for increasing India’s quota in IMF with higher voting rights.

PM said that in a difficult external environment and despite a second successive year of weak rainfall, India has ncreased its growth rate to 7.6 per cent, the highest among major economies in the world.