India is nation of job creators: Chandy

Source: The Hitavada      Date: 08 Apr 2018 09:36:38

India is nation of job creators chandy Suja Chandy Bhagirath Merchant Nikhil Agrawal 

 

Business Bureau, 

India is passing through a transformation phase as new start-ups are coming up with fresh ideas and giving boost to entrepreneurship, said Suja Chandy, Vice-President of Invest India. She was sharing her views at TiEcon 2018 organised by TiE Nagpur on Saturday morning.


She said, “We are going to be a youngest workforce in the world and there are ample opportunities to exploit. Entrepreneurs have major role to play in the coming days.”
Global CEOs are scanning investment opportunities in India.FDI has gone up by 60 per cent. In 2019, there will be 133 million new young voters. India has 1.19 billion mobile users with second largest cell phone manufacturing country.
“India is a nation of job creators. Government is going for patent process. Startups are coming from Tier II, Tier III and Tier IV countries,” Chandy said. India has inked exchange programme with Israel for startups.


Bhagirath Merchant, former President of BSE and Chairman of Visaka Industries said, demonetisation has changed formalisation of economy. There were large number of entrepreneurs who were not paying taxes.


“Now, they have came into ambit of taxation. We will get more revenue in the form of taxes. The total tax collection as on March 31, 2018 has touched Rs 10.53 lakh crore,” he said. As far as Nagpur is concerned, with the introduction of GST, entrepreneurs should invest in warehousing projects. New corridors are coming up in future which too would generate demand for warehousing.


Nikhil Agrawal, founder of Entrepreneur Cafe and High Commission India said, India should concentrate on space technology. “India has some 500 universities where innovation is happening. Whatever we have done is not something and not enough,” he said. India has USD 150 billion Information Technology industry. However, it has not created a world-class product.


The session was co-ordinated by Ghanshyam Ahuja of Thinkuvate. Milind Chittawar, President of TiE Nagpur Chapter made opening remarks at the TiEcon 2018 inaugural session.