Committed to remove obstacles & promote start-ups: Prabhu

Commerce and Industry Minister Suresh Prabhu today assured full support to start-ups and removal of obstacles to promote the sector in the country.
In a video message to budding entrepreneurs on Twitter, the minister said the government has created a corpus of Rs 10,000 crore and has also decided to give guarantees to the tune of Rs 2,000 crore.
The government is in the process of setting up a Rs 2,000 crore credit guarantee fund with a view to provide funding facilities to start-ups.
"We are committed to promote start-ups in India. We are committed to remove obstacles, help you move forward. You will get tailwinds. Earlier you were getting headwinds," the minister said.

"I will ensure that I will do my best to make the start- up community become successful, they shine, succeed and excel," he added.
Prabhu further said future is bright for those who are willing to take risks and start thinking differently.

Top companies of the world are the ones which were born recently and "this should give you a confidence that you will be the leading companies of tomorrow," he added.
He said the world around is changing fast and "if you just look around, opportunities are knocking at our door because change provides opportunity".
"Start-up is an opportunity to take advantage of change but start-ups itself is a trigger for change. So you are actually a change agent for society," he said.

In January 2016, Prime Minister Narendra Modi unveiled a slew of incentives to boost start-up businesses, offering them a tax holiday and inspector raj-free regime for three years, capital gains tax exemption and Rs 10,000 crore corpus to fund them.