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The government is open to suggestions on making it easier for startups that have moved abroad to return, said Commerce and Industry Minister Piyush Goyal to reporters.
He said that discussions will take place with the Start-up Advisory Council to gather feedback, and if needed, they are willing to take steps to make the process smoother.
The Start-up Advisory Council, established in 2020, advises the government on building a strong ecosystem to support innovation and startups, aiming to drive economic growth and create large-scale employment opportunities.
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Piyush Goyal, said, "It is a welcome sign and also very very satisfying that more and more start-ups come back home and register in India, list in India, and grow in India. India will be a preferred destination in the future.
Startups are considering returning to India due to easier access to capital through a thriving private equity and venture capital ecosystem, changes in overseas investment rules, and the growth of India's capital markets. Many are also looking into the possibility of listing in India after moving back.
Regarding complaints from traditional businesses about unfair practices by e-commerce and quick-commerce companies, Minister Piyush Goyal said the government is monitoring the situation.The Competition Commission of India has taken strict action against anti-competitive practices and has investigated companies that violated the rules.
Regarding quick-commerce companies like Blinkit, which recently launched a 10-minute ambulance service and medicine delivery, Minister Piyush Goyal stated that the company must ensure compliance with the law.
Blinkit introduced the 10-minute ambulance service as a pilot project in select areas of Gurugram on Thursday. When asked about Blinkit’s decision to offer ambulance and medicine delivery services, Goyal emphasized that the company must adhere to the laws of the country. He stressed that all legal requirements must be properly followed and that no laws should be violated in the process.
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