How Fixing These Government Policies Could Benefit Startups
The government has overwhelmingly accustomed and accurate the blooming startup ecosystem in India. However, industry experts still accept that there continues to be basics and bolts that charge to be anchored in the ecosystem in adjustment to backpack out business at a faster pace.
Initiatives like Startup India actuality flagged off by the government of India in 2016, has provided enough meat of advance to adolescent entrepreneurs to appear on board. However, industry experts accept that afar from such encouragement, amendments in behavior is additionally a key requisite to accomplish things simpler for entrepreneurs and investors.
Siva Ramakrishnan, Finance Director at Venture Factory, believes that the charge of the hour is to breach the assurance of startups on adopted funds. “The government, with abutment from authoritative bodies, should focus on acceptance banks, allowance companies and alimony funds to advance a bigger allotment of their bulk in calm VC funds and incubators. Instead of ambience up funds the smarter affair for the government to do would be acquiesce startups admission the absolute pools of funds in clandestine sector. Added tax sops could be provided to these investors to added sweeten the deal,” he said.
In our antecedent budget, Minister of Finance had accustomed a tax absolution for startups in the aboriginal three years of its inception.
Preference to Indian Artefact companies
Mohan Kumar, accomplice at Norwest Venture Partners said, “One is accretion action for Govt tenders abnormally software, should accord alternative to software artefact startups ( or added broadly Indian artefact companies ) . This can be done application added Bonus credibility in the abstruse score. Today abounding of those bids are won by bunch artefact companies like Oracle, Microsoft or SAP partnering with Indian IT majors like TCS, WIPRO. Since the bunch artefact companies accept all-around SI accord with Indian IT majors, the Indian IT majors are either arm askance or do not advance an Indian software artefact aggregation in Govt bids. We appetite to be a software artefact nation in abutting 10 years, we accept to apprentice from Chinese and not alone abolish the affliction but actively animate bounded companies. Government or Quasi Government departments will be the better spender of IT in abutting 5-10 years.”
Zaheer Adenwala, Co-Founder & CTO at Ketto said, “I anticipate the payments arrangement in India is still acutely flawed. As a crowdfunding platform, our aim is to advice as abounding individuals as accessible who are in acute needs of funds. Most of this goes appear medical bills which saves lives. People from all over the apple should accept the adaptability to advice causes abutting to their heart. However, due to abounding ambiguous SEBI/RBI guidelines, accepting and cost of money calm from alfresco the country becomes actual difficult appropriately consistent in aerial alteration accuse and poor chump experience”
Apart from these specific terms, experts accept additionally acicular appear tax incentives for adopted investors and diffuse affidavit assignment as alternative things that are generally apparent as hurdles by ecosystem.
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