Focus must be on improving startup ecosystem: Expert
The new government at the Centre should focus on improving the startup ecosystem as it's a big employment
Hyderabad: The new government at the Centre should focus on improving the startup ecosystem as it's a big employment generator and has the potential to replicate the country's information technology success story, an IT industry veteran said Thursday.
Former CFO of Infosys Ltd V Balakrishnan said the Narendra Modi government should focus on ease of doing business for start-up companies as there are too many regulations required to be comply with now, increasing the cost of operation.
"They should have a much more softer touch on regulations for start-ups at least in the beginning years (of startup companies)", he said.
"They should focus on scrapping angel tax provision because that has impacted the start-up industry much more than what any other regulation would have," he said.
The government has to focus on how make the startup ecosystem much more better than what it's today, Balakrishnan said, when asked to share his thoughts on IT industry issues that the new government should focus on.