New govt should focus on improving startup ecosystem: IT industry veteran V Balakrishnan
FirstpostHyderabad: The new government at the Centre should focus on improving the startup ecosystem as it’s a big employment generator and has the potential to replicate the country’s information technology success story, an IT industry veteran said on Thursday. Former chief financial officer of Infosys Ltd V Balakrishnan said the Narendra Modi government should focus on ease of doing business for start-up companies as there are too many regulations required to comply with now, increasing the cost of operation. India is the third largest startup ecosystem in the world and has the potential to become the second, he said, noting that more than 1,000 startups come up each year in Bengaluru alone. It can replicate a success story like the IT industry but it requires much more support now from the government”, Balakrishnan said.