The Government is working to make it easy for budding entrepreneurs to start a business or exit from it, giving boost to the Indian startup ecosystem, Union Minister for Commerce and Industry Nirmala Sitharaman said on Saturday. “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),” Sitharaman said at the 'Startup India' conference. She said Finance Minister Arun Jaitley is working ‘hard’ on the Bankruptcy Code. The Insolvency and Bankruptcy Code 2015, which seeks to provide an easy exit option for insolvent and sick companies, has been referred to a 30-member joint committee of the Members of Parliament for further scrutiny.
“I am sure, 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,” the Minister said.