The government is taking significant steps to boost the country’s startup ecosystem, including resolving the angel tax issue, simplifying tax procedures, and allowing for self-certification, Commerce and Industry Minister Piyush Goyal said on Friday.
He also stated that the government is working to reduce the compliance burden in order to promote ease of doing business.
Startups should leverage modern technologies for local and global markets, he said while speaking at the launch of NASSCOM’s Annual Technology Startup Report.
“We are trying to take significant steps to boost the startup ecosystem. We have the budget coming up soon and all of us are anxiously waiting to see and hear what is done with some of the asks (recommendations),” Goyal said
Over 26,500 compliances have been simplified, digitalized, or removed entirely from the statute, and “we have been able to decriminalise nearly 770 offences,” he added.
Talking about Open Network for Digital Commerce (ONDC), he said this platform would enable interoperability between e-commerce companies and provide small and large players an opportunity to reach the common man.
“The next UPI moment can be the ONDC, which will help new-age technology in taking access to common man at affordable cost and also giving our startups new opportunities to grow in India,” the minister said.
Get to know the pulses of the Indian startup ecosystem in reality by attending “INDIA FIRST TECH STARTUP CONCLAVE & AWARDS’22-Delhi Chapter” organized by the All India Council for robotics and automation, supported by the Ministry of electronics and information technology.
The event is scheduled to be held on the 17th and 18th of February 2022, marking the biggest tech startup event this year. The event brings together the speakers that are the best breed of entrepreneurs, innovators, venture capitalists, government department’s representatives, business model creators, consultants, policy-makers, academicians, support groups, business coaches and business practitioners.
The Platform helps startups to ramp up their innovative ideas and show off their services and products to attract investors. The experts of the industry will address and discuss all the innovations happening around the startup environment that youth empowerment and new-age tech business ideas can grow.
Click to know more about India’s biggest tech startup event:https://www.aicra.org/events/delhi/index.php
