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India is celebrating January 16 as its first National Startup Day pursuant to Prime Minister Narendra Modi’s address in a virtual gathering of over 150 entrepreneurs on Saturday where he termed startups as the “ backbone “ of new India and the engine that will power the nation’s economic growth in the run up to the 100th year of Independence.

Interacting with over 150 startups during the Startup India Innovation Week organised by the Department for Promotion of Industry and Internal Trade (DPIIT), theEV charging infrastructure, defence manufacturing, chip manufacturing offer and drone industry, Modi said, the current decade is being referred to as the “techade” of India and his government will usher in massive changes to strengthen innovation, entrepreneurship and start-up ecosystem.

During the meeting, Modi also outlined the measures taken by the government to support startups in the country, including programmes like Startup India, removing problems of ‘angel tax’, simplification of tax procedure, arranging for government funding, allowing self-certification of nine labour and three environment laws and removal of more than 25 thousand compliances.

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