CII kicks off initiative to nurture new businesses

Future Business Group, an initiative by the Confederation of Indian Industry (CII) to provide support to new businesses launched in the previous few years, was unveiled on Thursday. Together with the Department for Promotion of Industry and Internal Trade (DPIIT), CII will create a ‘national strategy for future businesses’ as part of the initiative.

It will also provide policy inputs, identify new growth segments and establish international partnerships with focus on growing such businesses. CII has also suggested that the government invite other nations to participate.

Commerce and Industry Minister Piyush Goyal, present at the launch, called upon senior business leaders to become mentors, not only to their own family or businesses but also to the new age & young entrepreneurs. Goyal said new-age entrepreneurs are going to change the fortune of India.

“We need to build a platform with like-minded countries and trusted partners to promote new-age businesses in India,” he said. India can engage with other countries and build up a platform with trusted partners to promote new-age businesses, he added.

The minister said that it is the youngsters, who are going to change the fortune of India, create jobs and bring prosperity to the people. “We have a huge start-up ecosystem in India. It’s more about recognising our capabilities, uplifting our entrepreneurs. Some of the ideas that youngsters have come up with are truly revolutionary.”