India Beckons: Start-ups Returning Home

Commerce and Industry Minister Piyush Goyal encourages start-ups to return their domicile to India, highlighting government readiness to facilitate this transition. The initiative is driven by the National Start-up Advisory Council's efforts to bolster India's startup ecosystem with sustainable economic growth and job creation.

The Commerce and Industry Minister Piyush Goyal emphasized the Indian government's openness to facilitating start-ups' return to India. Speaking on Friday, he addressed the need for dialogue with the National Start-up Advisory Council concerning easing the transition for those willing to change their domicile status back to India.

The National Start-up Advisory Council, launched in 2020, exists to guide the government on enhancing the national startup environment. It focuses on fostering innovation, supporting start-ups, and promoting sustainable economic growth alongside vast employment opportunities.

Goyal praised the trend of start-ups re-establishing in India, underlining that India will become a preferred global hub. Initially, start-ups registered abroad seeking international funds and relaxed regulations, but many now consider listing locally. The Department for Promotion of Industry and Internal Trade has sealed 50 Memorandums of Understanding with corporates, offering opportunities for start-ups to address industry challenges.

(With inputs from agencies.)