Startups to get special focus under export promotion mission: Goyal

Commerce and Industry Minister Piyush Goyal on Friday, December 16, said the ministry is considering a dedicated segment for startups under the Export Promotion Mission to help entrepreneurs access international markets.

“We are looking at creating a separate pathway under the EPM for startups,” Goyal said, adding that the ministry is focusing on new products, new markets, and new exporters, areas that are well-suited for startups.

The government recently approved a Rs 25,060 crore Export Promotion Mission to help exporters increase shipments to new markets amid high US tariffs.

Goyal said all entities registered with the Department for Promotion of Industry and Internal Trade (DPIIT) would be included in exhibitions worldwide. “Our efforts will ensure they are part of global trade platforms,” he said.

The minister outlined the government’s commitment to strengthening India’s startup ecosystem, expressing hope that the country will have around 10 lakh startups creating over one crore jobs in the next decade. Currently, over 2 lakh entities are recognised as startups by the ministry.

On Budget expectations, Goyal noted that angel tax was removed two years ago and emphasised ongoing dialogue on measures to further boost the startup ecosystem.

(With inputs from PTI)