homestartup NewsThe Ola moment? Startups cite 'Atmanirbharta'

The Ola moment? Startups cite 'Atmanirbharta'

The Ola moment? Startups cite 'Atmanirbharta'
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By Mugdha Variyar  Aug 22, 2021 11:13:30 AM IST (Published)

The government's boost to the ecosystem comes at a time when PM Narendra Modi has continuously reiterated the role of startups in taking India towards the $5 trillion mark.

"Anyone who wants to import vehicles into India should invest in the country, Ola CEO Bhavish Agarwal said during the company's e-scooter launch on Sunday, in response to Tesla CEO Elon Musk's demand to reduce customs duty on imported.

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The Ola EVs have 90 percent localisation, Aggarwal said.
The spirit of Atmanirbharta continued on Monday during a meeting by the newly formed National Startup Advisory Council.
There was a proposal to encourage LIC and EPFO to invest in the Fund of Funds. LIC chairman MR Kumar was himself present at the meeting and expressed interest, DPIIT additional secretary Anil Aggrawal said.
There was also a proposal to match startups to capital and mentorship.
The Council, which comprises several unicorns, investors and government officials from different departments met on Monday to discuss proposals to launch programmes to boost the startup ecosystem. Commerce Minister Piyush Goyal, who chaired the meeting, also gave his in-principle approval to seven proposals put forth by the industry, according to
The government's boost to the ecosystem comes at a time when Prime Minister Narendra Modi has continuously reiterated the role of startups in taking India towards the $5 trillion mark.
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