Chandni Chowk's Startup Recipe: Promises to Startups from Dilli 6

As India is in the midst of its massive democratic exercise, the elections are not just a political spectacle but also a fertile ground for entrepreneurial innovation. Globally, India's elections are viewed as a barometer of political stability and economic direction. 

India is home to 1.14 lakh startups and it is also the third largest startup ecosystem in the world. Startups are closely monitoring electoral promises to align with parties that offer political stability, enabling them to advocate for pro-startup policies.

As the Lok Sabha elections unfold, political parties are not just vying for votes but also for the support of the burgeoning startup ecosystem. With promises of fostering innovation and entrepreneurship, both the Bharatiya Janata Party (BJP) and the Congress have set their sights on wooing startups, recognizing their pivotal role in driving economic growth and job creation.

In an exclusive conversation with TICE News, Mr. Praveen Khandelwal, BJP’s Lok Sabha candidate for Chandni Chowk, shared insights into the party's vision for Delhi voters. As a Delhi-based businessman and the General Secretary of the Confederation of All India Traders (CAIT), Mr. Khandelwal brings a wealth of experience in understanding the pulse of the entrepreneurial community. Chandni Chowk, renowned for its traditional wholesale markets and businesses, holds immense potential for fostering innovation and startups.

"I understand that the younger generation holds the key to our nation's future. That's why we are committed to providing them with substantial handholding and guidance every step of the way. Through tailored programs, workshops, and mentorship sessions, we aim to equip our youth with the skills, knowledge, and confidence they need to navigate the complexities of the business world and emerge as leaders of tomorrow.

By fostering a culture of innovation and entrepreneurship, we not only empower individuals to pursue their passions but also contribute to the overall growth and prosperity of our nation. Together, let us make Chandni Chowk a beacon of innovation, a hub of creativity, and a symbol of progress.

I will invite all stakeholders – entrepreneurs, investors, educators, and community leaders – to join hands in this transformative journey. Together, we can build a brighter, more prosperous future for Chandni Chowk and beyond," Mr Praveen the BJP Candidate from Chandani Chowk said.

Startups, Elections, and Economic Prospects

The fusion of technology and democracy offers startups ample opportunities in India's electoral scene. By harnessing innovation, startups can drive positive change, shaping both politics and society. With a significant digital presence, startups wield influence over voter mindsets. Their keen interest in elections stems from the potential benefits of pro-business policies. Amidst economic optimism, stability in governance during elections is crucial for investors seeking market stability and positive sentiment.

Empowering Startup Ecosystem: BJP's Vision for Chandni Chowk

BJP ad on March 2 announced Mr Khandelwal as its candidate for the seat currently held by veteran leader and former Union Minister Dr Harsh Vardhan, who announced his retirement from active politics. Khandelwal will face off against veteran Congress leader Jai Prakash Agarwal.

Mr. Khandelwal outlined BJP's commitment to launching Startup Incubation Centers in the Chandni Chowk Constituency, reflecting Prime Minister Narendra Modi's visionary leadership in supporting ideas and innovations.

"Empowering the Future, we will  will launch Startup Incubation Centers in Chandni Chowk Constituency when elected. Prime Minister Shri Narendra Modi is known for supporting ideas & innovations and under his visionary leadership, upon elected as MP from Chandni Chowk Parliamentary Constituency, I will mark a significant milestone in our commitment to fostering innovation, entrepreneurship, and economic growth within my constituency. With the unveiling of the Startup Incubation Centers in Chandni Chowk constituency, we embark on a journey to nurture the next generation of innovators, creators, and job creators in pursuance of the start up India vision of PM Shri Narendra Modi," he said. 

According to the Ministry of Commerce & Industry, as of December 31, 2023, Delhi has 3150 DPIIT registered startups creating 38,280 jobs.

As of January 16, 2024, New Delhi was not among the top performing states and union territories (UTs) in the Department for Promotion of Industry and Internal Trade's (DPIIT) 2022 States' Startup Ranking. The ranking evaluates states and UTs across seven broad reform areas, including institutional support, access to market, and funding support. 

Mr Khandelwal told TICE News, "In today's dynamic economy, startups serve as the lifeblood, driving innovation, creating jobs, and fueling economic prosperity. Recognizing the pivotal role startups play in shaping our future, I am will do everything possible for establishment of startup incubation centers right here in our parliamentary constituency of Chandni Chowk.

Our vision is clear: to create an ecosystem where ideas thrive, innovations flourish, and dreams become reality. These incubation centers will serve as the breeding ground for budding entrepreneurs, providing them with the necessary resources, mentorship, and support to transform their ideas into successful ventures."

Sectorial Impact and Innovation

The elections also hold significance for various sectors, ranging from infrastructure to technology. Anticipation of policy continuity or change can lead to strategic shifts in business operations and investment decisions. Startups, driven by initiatives like Startup India, continue to play a vital role in India's economic growth, attracting attention from investors and policymakers alike.

BJP's Startup Manifesto: Modi's Guarantee for Innovation

With the unveiling of the 'Modi ki Guarantee 2024' manifesto, the BJP showed its intention to bolstering India's startup ecosystem. Promises include expanding funding schemes, providing mentorship, and encouraging startups' participation in government procurement processes. The manifesto also underscores initiatives to promote sports startups and establish a national geospatial data registry to fuel innovation.

Recently, while addressing a rally in New Delhi, Khandelwal said that tif elected, his government would work towards creating incubation centres in the heart of Old Delhi to boost start-ups:

“Youngsters in the country don’t lack ideas. But it is also true that the majority of start-ups don’t receive proper handholding, which is why they don’t work out. This is why I have decided that in my constituency, I will make incubation centres for start-ups. This will help address issues related to training, finance, etc. Wherever I go, I tell people that those who have ideas should come and talk to us — under Modi ji’s leadership, we will give it a practical shape,” said Khandelwal, outlining his plan if he wins.

Modi’s Sankalp for MSMEs

In addition to startups, the BJP manifesto outlines measures to support small businesses and entrepreneurs, such as doubling the loan limit under the PM Mudra scheme. Simplifying business regulations, revamping the GST portal, and integrating social security schemes further demonstrate the party's focus on fostering economic growth and empowerment.

A Bold Vision for India’s Economic Ascent

As India prepares to embark on a transformative journey, political parties are laying out their roadmaps for economic growth and inclusivity. The 'Modi ki Guarantee 2024' manifesto along with the promises made by its candidates wants to show its vision towards youth empowerment, innovation, and sustainable development. With startups at one of the forefront of this agenda, the voters are keenly waiting to see which party fulfils its promise of inclusivity and progress. As the country gears up for the elections, the aspirations of every Indian citizen are poised to shape the nation's future trajectory.

2024 Lok Sabha Elections to be conducted in 7 phases, with Delhi polls on May 25. BJP secured victory in all 7 Delhi seats in 2019. EC declared 96.8 crore voters for 2024 elections.

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