Govt’s job is to facilitate startups, not be a regulator: Goyal

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ANI

Addressing the Startup20 summit on Tuesday, Goyal said the message that should go out from here is the combined commitment of all the 22 participating countries that governments will not hinder the progress of work being done by startups.

Gurugram. Commerce and Industry Minister Piyush Goyal has said that the government will always act as a facilitator or facilitator to strengthen the startup ecosystem and not as a regulator. He said that the stakeholders of this ecosystem will self-regulate. Addressing the Startup 20 Summit here on Tuesday, Goyal said the message that should go out is that the combined commitment of all the 22 participating countries is that governments will not hinder the progress of work being done by startups. The best way, he said, is to get out of the startup ecosystem. He said that the government will not act to regulate or direct the ecosystem.

The minister said, “Our role will always be that of a facilitator and I do not see the government becoming an administrator or a regulator of this sector.” He said that the government’s job is to give seed-start or seed-funding to budding entrepreneurs. Goyal said that India offers a unique opportunity to the startup world. “India has the advantage of skilled talent, affordability, growing startup culture and aspirational population.” He invited startup companies from across the world to visit India and explore opportunities here.

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