We welcome the initiatives undertaken by the Government in the Budget 2015-16 towards encouraging Entrepreneurship & Innovation. To begin with, allocation of Rs. 1000 crores for empowering IT startups in the country is a step in the right direction but a larger allocation of funds would resonate with the requirements from the start-ups.
We are looking forward to the law by the Government that will ease and expedite the regulatory clearances and e-biz portal which integrates 14 regulatory permissions at one source. This is an interesting avenue for a start-up like Ducere Technologies (manufactures products in the wearable technology space) that is planning to set up its own manufacturing plant in India.
The Government’s plans to boost the manufacturing sector in India and make the country the manufacturing hub of the world, is a great initiative to ensure and encourage employment across the urban and rural areas.
We believe that a good investment environment and easy access to funds for encouraging product innovations is quintessential for young India that is budding with entrepreneurs developing innovative ideas into successful business ventures. Government’s announcement about easing regulatory clearances will also go a long way in fostering the climate for start-ups and boosting the IT product innovations in India.