Open to ideas to make it easier for startups to move back to India: Goyal
Several startups had initially registered abroad for easy access to finance from international funds, enhanced valuations and relaxed regulations in many sectors.
Commerce and Industry Minister Piyush Goyal on Friday said the ministry is open to ideas for making it easier for startups that want to change their domicile back to India from abroad.
The ministry, he said, will discuss with the National Start-up Advisory Council and take feedback "if any steps are required to make their journey back easier. We are open to ideas".
The council was set up first in 2020 and it advises the government on measures needed to build a strong ecosystem for nurturing innovation and startups in the country to drive sustainable economic growth and generate large-scale employment opportunities.
"It is a welcome sign and also very very satisfying that more and more start-ups come back home and register in India, list in India, and grow in India. India will be a preferred destination in the future," he said.
Several startups had initially registered abroad for easy access to finance from international funds, enhanced valuations and relaxed regulations in many sectors.
Many are exploring India listings after moving back.
Further, he said the Department for Promotion of Industry and Internal Trade (DPIIT) has inked 50 MoUs with corporate houses, sharing their problem statement.
The statements are shared with start-ups to look at opportunities.
Edited by Megha Reddy