#Startup India: We will be doing things so that startups stay in India, says government

Amid Silicon Valley bigwigs and a packed audience, India’s trade minister Nirmala Sitharaman said the government will set up a conducive ecosystem for startups.

Addressing the gathering at the Startup India event, Sitharaman said it will be easy for startups to launch or exit a business.

"I understand that starting a startup is as much important as somebody wants to exit from it. The government is working to make the exit also (easy)," said Sitharaman.

The minister also spoke about the Bankruptcy Code, which seeks to provide an easy exit option for insolvent and sick companies.

"I am sure with these (measures), we will be doing the right thing for the startups" so that they stay here in India "and not look at having a domicile somewhere else," said Sitharaman.

"We...have to see how best we can remove the clutter in such a way that your (startups) core business interest are the ones in which you are going to focus rather than think about what compliance have to be attended to," she added.

The Startup India initiative also looks to create employment in the country.

Speaking at the event, Secretary in the Department of Industrial Policy and Promotion (DIPP) Amitabh Kant said that 'Startup India' initiative will help in turning youth from "job seekers to job creators".

(Image: Indiatimes)