According to the reports coming in from ANI which has shared that Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Piyush Goyal emphasized further strengthening of ethics and corporate governance norms in startups.
According to the reports Minister Piyush Goyal stated that we needed just one more sixer to hit a Century of Unicorns.
According to the sources the government's efforts to reduce regulatory compliance burden has encouraged innovation.
It has further promoted commercialization of IPR and made it easier to begin, operate, grow and exit businesses.
The Minister expressed his desire that startups must incorporate in India and list in India and not move to tax havens.
According to the reports Minister Piyush Goyal urged them to approach the government if they face any issues and assured that it would strive to resolve problems.
The Minister further stressed that instances of fudging revenues, data fraud, tax evasions and other malpractices have to be curbed at an early stage or it would kill the entrepreneurial spirit of young startups and have a very damaging effects to the startup ecosystem.
Speaking of the technology revolution the Union Minister Piyush Goyal further stated that that Indian economy has been witnessing, with unicorns emerging in Fintech, Edtech, Healthtech, e-Commerce and media among other sectors.
According to the sources the Minister reminded that within 2-3 months of Startup India Global VC Summit 2019, National Startup Advisory Council (NSAC) was formulated and had done a stellar job in promotion innovation and startups.
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