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Union Finance Minister Nirmala Sitharaman mentioned that the federal government is able to discuss with the startups who’re considering shifting abroad and deal with their points as a lot as it could to assist them keep in India.
The FM additionally instructed a think-tank, that Prime Minister Narendra Modi has himself engaged with startups and the federal government’s insurance policies have created an enabling surroundings on account of which there are greater than 100 unicorns in India.
“I’ve engaged, the Prime Minister with the startups to know what they need from India. And we stored as a lot as attainable addressing their considerations. Now on account of which, not purely on account of which, but in addition due to which, you noticed your Unicorns coming to succeed in 100 in quantity throughout the yr of 2020 and 2021,” she mentioned in response to a query on the prestigious Brookings Institute think-tank.
“I’ve heard this from others as nicely. They (startups) are shifting to Singapore, they’re shifting to the UAE. Effectively, in the event that they wish to discuss to the Authorities of India and say, look, we have been shifting to Singapore, but when we have been to do that, we’d be fairly completely happy to be right here. And after listening to it if it is attainable, we’ll definitely attend to them,” Sitharaman mentioned when requested in regards to the profitable Indian startups shifting in another country.
“So I might assume steady engagement with the startups is what’s going to assist them to stay and do higher inside India. However, if there are temptations for which they’d wish to go exterior, we have to perceive how a lot we will entertain and serve on these programs. Not all of them are attainable however equally, we will strive,” Sitharaman mentioned.
Responding to a different query, the finance minister mentioned the Indian authorities is taking particular efforts to encourage startups within the Northeast.
“I bear in mind myself having had conferences with chief ministers of these areas about startups and IIT Guwahati, notably, has plenty of interplay with business and in addition encourages by throwing up challenges for the startups to give you options,” she mentioned.
“Because of this, I discover within the Northeast this distinctive, very typical for the Northeast sort of options emanating from startups that are arising in that space,” she added.
*With inputs from businesses
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