Rupani and Modi’s start-up industries are shut down, economic policy failed

Gandhinagar, 6 July 2020
Young entrepreneurs from Gujarat have misled the public by claiming to be the country’s start-up hub with a 43 percent startup share. Chief Minister Vijay Rupani cited a study report of NASSCOM, a reputed IT institute of the Government of India, that between 2014 and 2019, the growth in the establishment of start-up industries has increased by 12 to 15 percent annually. Gujarat alone has 43% of funded start-ups out of 150 start-ups in the country during this period. India has become the third-largest country in the world in terms of startups in the year 2018-19, with Gujarat accounting for 43% of startups. This was claimed by the Bodi Rupani government of BJP in January 2020. His claim has been exposed.

The startup closed, Rupani-Modi government policy flawed

The misguided economic policy of the Modi government of India and the corona epidemic has had a devastating effect on startups. A joint survey by FICCI and Angel Network of India found that 12 percent of startups in the country have shut down. 70 percent of startups have adversely affected their business. Many startups are struggling to survive due to the uncertainty of the business environment as well as unexpected changes in priorities by the BJP government at the Center.
The Chief Minister himself claimed that due to my encouraging approach, young startups in the state are getting full opportunity to thrive through financial assistance, online applications, monitoring, and tracking facility. Which is completely wrong.

Gujarat has a start-up policy. Between 2014 and 2019, more than 9000 startups have been established in the country. Gujarat also has more than 1500 registered startups and funded startups. Due to the Chief Minister, Gujarat is also a pioneer in the field of startups in the country. The assistance of up to Rs 10 lakh is provided for raw material-resources etc. for the new process.

Rupani’s claim is false
Incubators are given capital assistance of up to 50 percent, guidance assistance up to Rs 5 lakh per year and relief in electricity charges and electricity charges. Rupani’s inspiring approach has given a boost to the startup culture. It was claimed.

Inspired by Prime Minister Narendra Modi, the establishment of iCreat in the state in collaboration with Israel has provided an opportunity for the youth to share global ideological exchange techniques. Support for startup innovation is also available through i-Create. Given the importance and potential of this complete ecosystem of Gujarat in the field of startup, the next startup conference of BIMSTEC countries including India, Bangladesh, Bhutan, Myanmar, Sri Lanka, Thailand, Nepal is also being planned in Gujarat.

Chief Minister Vijay Rupani urged startup youths to give jobs to job seekers by applying their research and new ideas under the startup mission.

The state has provided Rs 140 crore to startups since 2016. Got 4000 jobs. According to a NASSCOM report, Gujarat has become the startup hub of the country with 43% funded startups.

The temptation of Modi and Rupani in the startup is not going on.

Truth has come out
A nationwide survey was conducted on the impact of Kovid-19 on Indian startups covering 250 startups in the country. 70% of the people surveyed said that Kovid-19 has affected their business. About 12 percent of startups’ financial condition has deteriorated so much that they have had to be closed.

Can’t stand it either
The survey shows that only 22 percent of startups have enough cash to meet the fixed spending costs over the next three to six months. 68 percent of these people are struggling with these conditions to reduce their operating and administrative costs.

Reduced salary and hired employees
About 30 percent of companies said they would lay off employees if the lockdown was prolonged. In addition, 43 percent of startups have started a 20–40 percent pay cut in April – June.

Investment stalled
More than 33 per cent of these investors had reversed their decision to invest and close the business. 10 percent said the deal was done. The survey found that before the Kovid-19 outbreak, only eight percent of startups received funding according to the deal. Low funding has forced startups to postpone further growth and business growth. They have lost previous orders, adding to the difficulties for startup companies. Thus, the weak policy of the central government is the biggest culprit. Their investment in startups has been affected. At the same time, 92 percent said that their investment in startups will be reduced in the next six months. About 59 percent of investors said they would like to work with existing portfolio companies in the coming months. Only 41 percent said they would consider a new deal.

Thus, the poll has revealed Modi and Rupani. The survey of the entire country also applies to Gujarat.