Why in News ?
Results of the second edition of Ranking of States on Support to Startup Ecosystems were released by Minister of Commerce & Industry and Railways.
About Ranking of States on Support to Startup Ecosystems
- Who Released ?
- Department for Promotion of Industry and Internal Trade (DPIIT) conducted the second edition of the States’ Startup Ranking Exercise.
- Objectives and Aims ?
- The main objective to foster competitiveness and propel States and Union Territories to work proactively towards uplifting the startup ecosystem.
- To encourage mutual learning among all states and to provide support in policy formulation and implementation.
- 7 broad reform area
- Institutional Support, Easing Compliance, Relaxation in Public Procurement norms, Incubation support, Seed Funding Support, Venture Funding Support, and Awareness & Outreach.
- A total of 22 States and 3 Union Territories participated in the exercise.
- Ranking of States are classified into 5 Categories
- Best Performers, Top Performers, Leaders, Aspiring Leaders and Emerging Startup Ecosystems.
- Two wide groups
- Category Y : UTs except Delhi and all States in North East India except Assam
- Category X : All other States and UT of Delhi
- Where the states stand ?
- Gujarat has emerged as the best performer previous year as well.
- Karnataka and Kerala have been ranked as top performers
- Bihar, Odisha and Rajasthan rank as the leaders in same rankings.
- Emerging startup ecosystems in the country Andhra Pradesh, Chhattisgarh, Himachal Pradesh, Mizoram, Tamil Nadu, Assam, Delhi, Madhya Pradesh, Sikkim and Uttar Pradesh.
- Aspiring Leaders Haryana, Jharkhand, Punjab, Telangana, Uttarakhand
How can start up Helps ?
Promoting entrepreneurs
- Job creation
- Expanding economic activity
- For the prosperity and development through equal opportunities.
- Help in capacity building in the states.
Startup ecosystem in the country has led to the creation of over 4 lakh jobs.
Department for Promotion of Industry and Internal Trade (DPIIT)
- Under Ministry of Commerce and Industry established in the year 1995 and was reconstituted in the year 2000 with the merger of the Department of Industrial Development.
- Department is responsible for
- Productivity in Indian industry
- Industrial Management
- Matters related to e-Commerce and start-ups
- Facilitating Ease of Doing Business (EoDB)
- Promotion of internal trade including retail trade, welfare of traders and their employees
- Administration of Industries (Development and Regulation) Act, 1951
- The department also handles matters related to Foreign Direct Investment (FDI) and investment by NRIs.
- Five territorial divisions for international cooperation and industrial promotion handling matters related to America, Europe, CIS countries, Africa and Middle East, Asia and Oceania.
- Make in India led by DPIIT.
- Project Monitoring Group for resolving of issues and bottlenecks and fast tracking the setting up and commissioning of large infrastructure projects.
- Ease of Doing Business to improve the business environment in the country.
- Start-up India DPIIT as nodal department.
- Foreign Direct Investment (FDI) Policy DPIIT is the nodal Department for formulation of policy of the Government.
- National IPR Policy entrusted matters with DPIIT.
- DPIIT is the nodal Department for all matters related to United Nations Industrial Development Organization.
Besides there are a other numerous function entrusted within DPIIT. The above mentioned are frequently in News. For further research please follow Department for Promotion of Industry and Internal Trade (DPIIT)
Source : PIB
Topic
Prelims : About Ranking of States on Support to Startup Ecosystems, Department for Promotion of Industry and Internal Trade
GS III :
1. Effects of liberalization on the economy, changes in industrial policy and their effects on industrial growth
2. Investment models
Current Affairs Compilation : 12 September 2020