Trade Minister Piyush Goyal chaired the first meeting of the National Startup Advisory Council (NSAC) which was held on 15th April. The council was set up to advise the government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country.

Addressing the inaugural, the minister said that the government is ready to act as an enabler rather than as a regulator for startups in the country.

Department for Promotion of Industry and Internal Trade (DPIIT) in January had constituted the Council to drive sustainable economic growth and generate large-scale employment opportunities. Apart from the ex-officio members, the council has a number of non-official members who serve a range of stakeholders, including prominent startup founders, veterans who have developed and scaled businesses in India, persons capable of representing the interests of investors in startups, persons capable of representing the interests of incubators and accelerators, and representatives of startup's stakeholders and representative of industry associations.

The council shall act as the guiding light for many budding startup entrepreneurs in India. Piyush Goyal stated that "this is the first time in our nation's history where such a high-powered team of people from the private sector and the government have come together so that they take their own policy decisions."

“We have witnessed tremendous efforts by stakeholders right from national to block levels towards the realization of our Hon’ble PM’s ‘Startup India’ vision’,” Goyal was quoted as saying in a statement issued by the government.  

Goyal emphasized the importance of sowing the seeds of entrepreneurship at the school level to inspire students to innovate, urging ‘Startup India' to become a symbol of national partnership and consciousness.

He also called upon successful entrepreneurs to take the initiative to share their knowledge, experience, ideas and mentor students and youth.

People in rural areas, and Tier II and Tier III towns, have innovative ideas waiting to be harnessed, he said.

Goyal described startups as the "new champions of Atmanirbhar Bharat," claiming that India could become the world's largest and most creative startup ecosystem.

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