India has close to 60 million small business owners who run kirana stores, salons, apparel shops, bakeries, chemists, dry cleaning units. Financial needs of insurance and loans are largely underserved in this big segment

The government's move to relax norms for start-ups will \"unshackle angel investing\" and unleash the next wave of entrepreneurship in the country, helping India further strengthen its position as a leading \"start'up nation\", according to industry experts.