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Many rules & regulations in states unsuited to kind of technological innovations taking place in start-ups: DIPP Secy

Updated: Jan 01, 1970
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There are many such rules and regulations in states which are completely unsuited to the kind of technological innovations that are taking place in start-ups today, said Ramesh Abhishek,  DIPP Secretary.

He was addressing the 1st Anniversary Celebrations of Start-Up India.

Elaborating on the role that states play for supporting businesses, Abhishek said in a large country like India nothing much can happen unless the states are on board.

He said the start-ups have a different min-set and they need support from the states.

Abhishek said he has personally written to more than 100 Top CEOs from the private sector to support incubators and start-ups.

“We can only request and advice the private sector. We can’t force them to do so,” he added

The tax benefits that have been given to the start-ups need to be reviewed and definitely they need more support, he said adding that DIPP is working with the Ministry of Finance to give more concessions and benefits to the start-ups.

“There is a definitive change in mind-set of regulators like RBI and SEBI to support start-ups,” he added. (Watch Video) (KNN Bureau)

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