he Union government might introduce a policy in December specifically for start-ups to give reprieve to stakeholders from stringent and unreasonable regulatory laws, said R. Chandrasekar, president, NASSCOM (National Association of Software and Services Companies).
The new policy will make business easier for start-ups, right from starting and operation to even the closing stages.
The taxation and investment part of start-ups will be made relatively easy, said Mr. Chandrasekar, who also spoke on their engagement with the Centre in this regard.
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Throwing light on the start-up success story of the country, he said that India, presently in fourth position, was poised to become the second biggest start-up country in the world. With a headcount of about 90,000 in the entire country, 90 per cent of those employed in start-ups are below the age of 30 years, he said.
Apart from touching key sectors like healthcare, power and infra, the start-up culture has also helped in successful trading of products from remote parts of the country. Closer home, Hyderabad stands second in the country in terms of average start-up valuation after Bengaluru, even beating Mumbai and Delhi NCR, he said.
He was in the city to deliver a talk on “Start-up Revolution – India’s Silver Bullet” at Manthan’s ‘Samvaad’ held in the city.
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Replying to a question posed on net neutrality, the Nasscom president said that the government would not compromise on a user’s internet freedom. Furthermore, he said that the government understands now that regulating online content would jeopardise the future of innovative start-ups.
With a headcount of about 90,000 in the entire country, 90 per cent of those employed in start-ups are below the age of
30 years
R. Chandrasekar
Nasscom president