Though the country has achieved the number three position in the startup world, Nasscom said India needed more policy reforms for the growth of the sector.
R. Chandrashekhar, Nasscom President said, “I think the potential of India is much greater. We think we are doing well, but we can do a whole lot better.”
He also said Nasscom has collated 10 various issues and policy changes needed for the further growth of the sector and has submitted it to the government. The first recommendation is to define what a technology startup is, what is included in it, what is not along with a set of suggestions.
Nasscom also has sought easing of rules and regulation for funding, and simplifying compliance procedures by minimising licences, permits, approvals, tax for startups.
