“We are going to collaboratively define startups uniformly across G20 countries. We have already had discussions on this twice. By the third meeting, it should be finalised,” a senior government official said.
The development comes in the backdrop of the setting up of Startup20, an official engagement group initiated under the Indian presidency of G20.
Fourteen countries and two invitee nations took part in the second meeting in Sikkim. Delegates from multilateral agencies, such as the United Nations Development Programme, World Economic Forum, were also a part of the session. “Globally also, India is showing leadership at the start-up forefront,” the second official cited above said.
Although India has emerged as the third largest start-up ecosystem in the world, after the United States and China, there is no record of the total number of such new-age companies in India beyond the government recognised startups. This is one of the crucial policy matters that India wants to address.
Development of start-ups through collaboration with large corporations across nations provide a next dimension of growth for startups and also expedite some of the key global issues, it said.
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