Simplification, facilitation and ease of doing business has helped India create more startups, Commerce and Industry Minister Piyush Goyal said on Sunday.

       For promoting startups, the government is creating future global leaders and wants to become the innovation hub of the world, he said during an interaction with the industry representatives in Bengaluru.

       "India has been able to create the third largest startup ecosystem in the world since its launch.This has been possible by the government's focus on reforms like simplification, facilitation and ease of doing business," he said.

       He called upon the industries to be self-sufficient in the area of semiconductors. Goyal also suggested the participants to formulate a draft road map for the development of startups.

       (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)