Looking to create separate segment for startups under export promotion mission: Commerce Minister Goyal

Commerce and Industry Minister Piyush Goyal on Friday said the ministry is looking at creating a separate segment for startups under the Export Promotion Mission to help budding entrepreneurs explore international markets for their products.

The government has approved a Rs 25,060-crore Export Promotion Mission (EPM) to help exporters increase shipments to new markets amidst high tariffs imposed by the US.

"We are looking at creating a separate pathway under the EPM for startups," he told reporters here, adding that the ministry is focusing on new products, new markets, and new exporters.


All these three things are a "right mix" for startups, he said.

"Our efforts will be that all those who have registered with the DPIIT (Department for Promotion of Industry and Internal Trade)... will also be a part of exhibitions across the world," he said.

He also said that the government is taking a series of steps to strengthen the country's startup ecosystem.

He hoped that in the next decade, India will have about 10 lakh startups, which would create over 1 crore job opportunities.

At present, over 2 lakh entities are recognised as startups by the ministry.

About the expectations from the Budget, Goyal said, "Angel tax was removed two years ago... we are in continous dialogue on host of such suggestions which will further give a boost to the startup ecosytem".