Prime Minister Narendra Modi on Wednesday said the government was initiating several steps to promote young talent and entrepreneurs in the country and urged them to help transform the country's agriculture sector.
"We have started an Agriculture Grand Challenge. We invite more youngsters to ideate on how to transform our agriculture sector," Modi, interacting with young entrepreneurs from across the country, said.
Modi said that the startups scenario in the country was changing and expanding in various fields. Smaller towns and villages too are emerging as vibrant startup centres, he said.
"Adequate capital, courage and connecting with people are required for excelling in the startup sector," Modi said.
The Startup India Action Plan was launched to promote budding entrepreneurs in the country. With this, the government aims to give incentives such as tax holiday, inspector raj-free regime and capital gains tax exemption, Modi said.
"Our startups are growth engines. Today's big companies were startups at some point. I urge the people of India to keep innovating," he added.
The prime minister also said that the youth in the country are now generating jobs and the government has created a Rs 10,000 crore fund to help and promote startups. He also said startups can sell their products to the government and it has eased public procurement norms for them.