Ready to speak with startups to deal with their considerations and stop them from shifting out of India: FM Sitharaman

The authorities is able to discuss with the startups who’re considering shifting abroad and handle their points as a lot as it will probably to assist them keep in India, Union Finance Minister Nirmala Sitharaman stated on Tuesday.

Prime Minister Narendra Modi, she instructed a think-tank right here, has himself engaged with startups and the federal government’s insurance policies have created an enabling setting because of which there are greater than 100 unicorns in India.

“I have engaged, the Prime Minister with the startups to know what they want from India. And we kept as much as possible addressing their concerns. Now as a result of which, not purely as a result of which, but also because of which, you saw your Unicorns coming to reach 100 in number within the year of 2020 and 2021,” she stated in response to a query on the prestigious Brookings Institute think-tank.

“I’ve heard this from others as well. They (startups) are moving to Singapore, they’re moving to the UAE. Well, if they want to talk to the Government of India and say, look, we were moving to Singapore, but if we were to do this, we would be quite happy to be here. And after hearing it if it’s possible, we’ll certainly attend to them,” Sitharaman stated when requested concerning the profitable Indian startups shifting in another country.

“So I would think continuous engagement with the startups is what is going to help them to remain and do better within India. But, if there are temptations for which they would want to go outside, we need to understand how much we can entertain and serve on those courses. Not all of them are possible but equally, we can try,” Sitharaman stated.

Responding to a different query, the finance minister stated the Indian authorities is taking particular efforts to encourage startups within the Northeast.

“I remember myself having had meetings with chief ministers of those regions about startups and IIT Guwahati, particularly, has a lot of interaction with industry and also encourages by throwing up challenges for the startups to come up with solutions,” she stated.

“As a result, I find in the Northeast this unique, very typical for the Northeast kind of solutions emanating from startups which are coming up in that area,” she added.