India woke up late on start-ups, own up for delay: Pranab Mukherjee

Mukherjee also appreciated PM Modi for taking the initiative on start-ups

On the eve of the launch of 'Start-Up' campaign by Prime Minister Narendra Modi, President Pranab Mukherjee tonight said India has "woken up" too late on it and owned up responsibility for the delay, while noting that he had been in administration earlier.

Mukherjee, while interacting with a delegation of CEOs from the Silicon Valley here, said India needs to grow at the rate of 10% over period of next 10-15 years in order to address the issues of poverty and healthcare.

"Some of you have correctly pointed out that they (new entrepreneurs) feel confident, they want to do..It is the job of the government to create the policy environment to encourage entrepreneurship. We have taken too long but nonetheless we have taken that decision. We have woken up," he told the CEOs while referring to the 'Start-Up' campaign which is aimed at boosting entrepreneurship at grassroots level.

While talking about the delay in creating an environment enabling for small entrepreneurs, Mukherjee, who had served as Finance Minister in the previous UPA government, said, "I cannot pass on the buck to anybody. I will have to take the buck to myself because I was in administration too long."

He appreciated Modi for taking the initiative.