Prime Minister Narendra Modi will announce special initiatives in December to give a further boost to the start-up ecosystem in the country.
This was stated by Jayant Sinha, Minister of State for Finance, at TiEcon Delhi 2015 on Saturday.
Responding to queries on the inordinate delays in service delivery of government departments, Sinha said that the government was committed to improve the ease of doing business in India.
“Stay tuned,” Sinha said when a delegate pointed out that it was taking about two months to incorporate a company in India.
This is the situation in India when countries like the UAE were handing out certificates of incorporation on the same day itself, this delegate said.
BusinessLine is the print media partner for the two-day TiEcon Delhi 2015 that commenced on Friday.
Advice to Startups
Earlier in his address, Sinha advised start-ups to use India as “springboard” to serve the global markets.
He also said that the world was awash with capital, and would not be right to say there is lack of capital to support entrepreneurial centres.
“If you are not getting fully funded, then you should look within and make sure the enterprise is creditworthy and worthy of getting capital,” Sinha said.