The paradigm shifts and the idea to reform rules in order to invite foreign investors and enterprises to come and establish their base in India has started working in the favor of country. People from the remotest corners of the country are experiencing the change. With Xiaomi establishing its base in Visakhapatnam to Australia importing Metro Racks from India. The change is evident and opportunists are cashing on to it.
Be it the well-established enterprises or nascent startup, there’s something for everyone. Indian Government and RBI are coming together to cut rates and introduce services that will make business development easier and simpler.
Under the campaign Startup India Standup India government has already introduced tax exemption programs for startups. With the new rules coming into play startups will be able to access varied platforms and technologies with great ease.
Nascent startups and small businesses could be raised to 50% from 25% of paid up capital, improving the incentives for innovators and giving a boost to the Startup India initiative.
Government plans to setup a community before the annual budget comes into play. The committee will consult the Financial Ministry and will develop a report including financial burden that will fall on the Government of India and how it will manage. One of the officers said, the new rule will be implemented sooner or later irrespective of the burden given government is serious about promoting startup culture in India.
The growing startup culture will help government in the long run as well. India will turn into the hub of world-class enterprises and industries. We will be able to control the cost of varied products in the International Market and will also be able to negotiate rates of currency exchange. Combine all these benefits and you will see India as the emerging world power. With powers in bits and smalls will make India the real owner of the International Market and the government of India will be able to help its innocuous citizens come over the lethal poverty and live a worthy life.
The changes are going to come at a cost and the contemporary government is ready to bear the cost in form of financial burden for next one or two decades. The challenges will make things tougher but the government is adamant about supporting startups.
It is probably the best time for entrepreneurs to start a business in the contemporary India and lead a live they always wanted to live.