Dr Subhash Chandra Pandey, additional secretary and financial advisor, DIPP said, the Department of Industrial Policy and Promotion (DIPP) will be setting up a Startup India hub, a marketplace of sorts where all stakeholders from the ecosystem can speak to another stakeholder. The forum will be launched in a month, he said at an ASSOCHAM event of private equity investors held on the 21st of April, 2017.
That could typically mean a government sponsored networking platform, where entrepreneurs can find other entrepreneurs; bootstrapping startups can find interested investors; investors can find investors with money to spare, or even a fund manager who can use the platform to find potential investors interested in pooling their free capital in venture investments.
Other than this positive development from the government, all we got were mixed signals.
The ambiguity and unpredictability of policymakers were highlighted when Dr Subhash Chandra Pandey, additional secretary and financial advisor, DIPP said, “One of the top priorities of the DIPP is investment promotion, facilitation and hand holding. And to create an investor friendly climate.
To promote startups, we also want to inculcate a culture where all exits do not become barriers to re-entry. And that every case is examined on its merits. So free entry, free exit subject to prudential regulations. And no change of rules of the game. These are some of the essential principles guiding our efforts in easing policy in entries and exits of a business.”
Then later Dr Pandey said, “On the business community’s expectations on taxation on the legal environment, I would like to explain things in a lighter vein. Even if you strike a deal and the environment is at room temperature, don’t expect the environment to be at room temperature when you’re trying to make an exit. Take this environment of taxation and environment as one that can change unexpectedly, due to unforeseen circumstances. The only legitimate expectation is that “I will not be unfairly singled out if and when there might be changes in the environment.””