Govt giving startups priority and tax exemptions
New India is moving with a New Energy towards a bright future, and Private Equities & Venture Capitalists are partners in this New Journey towards a New Horizon, Commerce and Industry Minister Piyush Goyal has told the Indian Private Equity and Venture Capital Association Annual Conclave 2021.
“We are happy to work in the true spirit of partnership, so that investors, startups & venture capital funds enjoy working in India,” he assured delegates at the conclave on 17 Mar 2021.
The Minister called upon all investors to stick to the spirit and ambit of the law and not try to find loopholes in the policies or laws. “Despite our best efforts to provide predictable and stable policy environment, some of the investors have been trying to circumvent and misuse the provisions through ingenuity and innovations.”
Goyal stressed that “things will never go wrong if people follow the law honestly”.
International investors are important for startup funding and are welcome in the country but are having their own limitations, he noted.
Domestic investors can possibly penetrate much deeper into the hinterland and smaller towns and cities where there is a lot of innovation and potential waiting to be tapped, according to Goyal. Domestic investors chasing good startup ideas can even bring confidence and comfort level among the international investors, he said.
The Government is willing to strengthen the startup ecosystem and is open to new ideas, he assured.
“Recognising the strength of our startup ecosystem, the Government is giving startups priority, giving them exemption in various taxes, and providing support through preferential procurement.”
He described the Indian startups’ success as the nation’s success. “We have an open mind, and our doors are always open to fresh ideas and thinking. We are happy to work in the true spirit of partnership.”
Inviting the investors to take India’s ‘3D advantage’: Demand, Democracy & Demographic dividend, Goyal said, “Collectively, we can do good for the largest set of people, who are aspiring for a better quality of life.
“If you look at INDIA, the IN is our Innovation DI is our Disruption and A stands for Asia. We are the innovators and disrupters in Asia and we can define the progress and prosperity for a large section of society.
“Today, New India is moving with more energy and excitement about the future. We can see before us a bright future, a billion people aspiring for a better quality of life and that is what provides opportunities to look at innovative solutions to the day to day problems,” the Minister underlined. #technology #startup #innovation #investment /fiinews.com
