In recent news, the Indian Government has established a National Startup Advisory Council. The council’s role is to provide advice to the central government on strategies necessary for developing a robust environment nurturing innovation and new startups. Currently, India is ranked 136th in the ‘Ease of Doing Business’ category related to starting a business, this according to the World Bank’s records. This ranking comes in comparison to India’s overall score which is 63rd globally.
Composition of the National Startup Advisory Council
The National Startup Advisory Council comprises various members including an elected chairman and convener, ex-officio members, and non-official members. The Minister for Commerce & Industry holds the position of Chairman while the Joint Secretary, Department for Promotion of Industry and Internal Trade, takes up the role of Convener.
Ex-officio members consist of nominees from concerned Ministries, Departments, and Organizations who hold at least the rank of Joint Secretary. Non-official members are nominated by the Central Government and are drawn from diverse categories such as founders of successful startups, industry veterans who have successfully grown and scaled companies within India, and individuals capable of representing investors’ interests into startups. These non-official members will serve for a term of two years.
Functions of the National Startup Advisory Council
The advisory council has several responsibilities. Primarily, it is expected to propose strategies that encourage innovation among the citizens, particularly students, and facilitate innovation across all sectors of the economy nationwide.
Another key function is to recommend strategies for public organizations that enable them to incorporate innovation, thereby improving public service delivery. The council’s role also extends to promoting the creation, protection, and commercialization of intellectual property rights.
Finally, the council must suggest measures that make it easier for businesses to start, operate, grow, and exit by reducing regulatory compliances and costs while also ensuring that startups have easy access to capital.
| Name of Rank | Position |
|---|---|
| Minister for Commerce & Industry | Chairman |
| Joint Secretary, Department for Promotion of Industry and Internal Trade | Convener |
| Nominees of the Concerned Ministries/Departments/Organisations (not below the rank of Joint Secretary) | Ex-officio Members |
| Central Government nominated individuals from various categories | Non-official members |
Source: PIB
This information was provided by the Press Information Bureau (PIB), which acts as a nodal agency for communicating to the media on behalf of the Government of India.
Last Modified: February 7, 2024