Context:
The Indian Government has announced a significant structural shift for its flagship Start-up India initiative. The program, initially managed under Invest India, will now be transitioned to a newly established non-profit entity. This change aims to streamline processes and enhance strategic alignments. Additionally, this new non-profit will also encompass the National Start-up Advisory Council, facilitating more integrated and focused support for India’s burgeoning start-up ecosystem.
Relevance:
GS II: Government Policies and Interventions
Dimensions of the Article:
- Invest India
- National Start-up Advisory Council (NSAC)
Invest India
Invest India acts as India’s official National Investment Promotion and Facilitation Agency. Established as a non-profit under the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, its primary role is to facilitate and empower investors navigating the ‘Make in India’ initiative.
Functions and Offerings:
- Sector-Specific Support: It focuses on targeted investor engagement and partnership development, fostering sustainable investments across various sectors.
- Comprehensive Assistance: From pre-investment to after-care, Invest India provides thorough support including market entry strategies, detailed industry analysis, and assistance with location and partner finding.
- Policy Advocacy: The agency plays a crucial role in representing investor interests with policymakers to enhance the business environment in India.
- Global and Local Partnerships: Collaborates with both global investment promotion bodies and multilateral organizations to bolster investment opportunities.
Headquarters:
New Delhi, India
National Start-up Advisory Council (NSAC)
The National Start-up Advisory Council, established by the DPIIT, serves to guide the Indian Government on crafting a robust ecosystem for startups, focusing on innovation and large-scale job creation.
Objectives and Structure:
- Advisory Role: NSAC provides strategic recommendations on nurturing startup innovation, aiming to propel sustainable economic growth and job creation.
- Leadership: Chaired by the Minister for Commerce & Industry, it includes ex-officio members from relevant ministries and departments and non-official members comprising founders and veterans of successful Indian startups.
- Strategic Integration: The council embodies a collaborative platform for all principal stakeholders of the startup ecosystem, enhancing policy coherence and effective strategy implementation.
-Source: The Hindu
