Former Infosys CFO and investor Mohandas Pai lauded Union Commerce Minister Piyush Goyal for announcing that the government is launching a dedicated helpline for startups across India. This platform is aimed at helping entrepreneurs voice their concerns or share suggestions with the government.
Goyal made the announcement at the Startup Mahakumbh event in New Delhi on Saturday.
The minister added that the helpline would be accessible to all startups nationwide, allowing them to register complaints or provide feedback on policies. “Whenever any officer troubles you (startups) or if you want to make any suggestion regarding any changes in the laws or if you want to flag any product or technology which may not fall under the current legal boundaries of India, you will be able to reach out to that helpline,” said Goyal during his address.
Highlighting government support for the startup ecosystem, Goyal said that the Startup India initiative’s Rs 10,000 crore fund of funds has so far enabled each startup to receive, on average, about Rs 20 crore in funding.
The Union minister also expressed concern about the way certain investors acquire large stakes in early-stage startups by investing small amounts, leaving founders with limited ownership as their companies grow.
These announcements follow recent remarks by Goyal that has sparked a debate. At a separate investment summit in Delhi, he slammed the overemphasis on food and hyper-delivery apps, suggesting Indian startups should pivot towards more advanced technologies, akin to those being developed in China.
Additionally, Goyal expressed concern about the surge in online betting applications, many of which are under investigation for alleged financial misconduct. He urged Indian entrepreneurs to steer their innovations toward sectors that contribute meaningfully to the economy, underscoring the need to enhance "real economic productivity."
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