Commerce and Industry Minister Piyush Goyal on Friday said the ministry is open to ideas for making it easier for start-ups 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, set up in 2020, advises the government on measures needed to build a strong ecosystem for nurturing innovation and start-ups 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, register in India, list in India, and grow in India. India will be a preferred destination in the future,” he told reporters.
Several start-ups had initially registered abroad for easier access to international funds, enhanced valuations, and relaxed regulations in many sectors. Many are now exploring India listings after moving back.
Further, Goyal said the Department for Promotion of Industry and Internal Trade (DPIIT) has inked 50 MoUs with corporate houses, sharing their problem statements. These statements are shared with start-ups to identify and explore opportunities.
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