Reserve Bank of India recently constituted an expert committee on MSMEs and the committee has submitted a report about the current environment for Startups in India and the best practices that should be adopted to encourage the Startups. The committee deliberated on all aspects relating to the startups in India.
It has opined that the Startups migrate to other countries because of the better enabling environment such as tax concessions, well-developed infrastructure, ease of doing business, exit policy, etc. The committee opined that similar financial incentives and excellent infrastructure facilities much to be deployed to retain successful startups.
The committee also added that Telangana has adopted an innovative model for startups which may be assessed for possible replication in other states. “Happy to note that the expert committee on MSMEs, constituted by Reserve Bank of India has appreciated the Telangana start-up model & suggested that all states emulate Telangana,” Former Minister KTR said.
This accolade is definitely an achievement to the newest state of the country.