For the first time in India, we have a minister for entrepreneurship. Although the position is that of a junior minister (minister of state), it is a great start and shows how serious the new government is about entrepreneurship.
Sarbananda Sonowal, from Assam, was appointed as the Union Minister of State-Independent Charge for Sports & Youth Affairs, Skill Development & Entrepreneurship in the NaMo government.
Sonowal represents the Lakhmipur constituency of Assam and was a member of the Bharatiya Janata Party which came to power after the elections earlier this year.
For entrepreneurs and technology, the new government seems to be full of good news. Last week, we saw Pranav Mistry expressing his desire to come back to India and work for the government.
The BJP had also promised to improve the technology infrastructure in the country by setting up Wi-Fi zones and 100 Hi tech cities and making better use of technology in various sectors like education and healthcare.
We’d love to see the entrepreneurship policy for India being implemented. We’d also love to see the $1 bn India Inclusive Innovation Fund fast tracked to make investments in startups. Other states could also take cues from the Kerala government’s entrepreneurship policy and do what it takes to kick start entrepreneurship.
We’d like to see the government make it easier for companies to list in India.
India is currently ranked way behind other developing economies in the ease of doing business index published by the World Bank. Measures that improve basic infrastructure, make it easier to start and wind up a business, provide better access to credit and protect investors etc can go a long in improving the economy.