New Delhi, March 6, 2017

The Centre is open to a complete rethink on the definition of startups to reflect the current ground realities, Ramesh Abhishek, Secretary, Department of Industrial Policy and Promotion, has said.

"We are quite flexible on the definition issue. We are open to providing different periods for startups in different sectors. We may also look at having different turnover criterion", Abhishek said at IVCA's Annual India Alternatives Conclave 2017 in the capital on Monday.

DIPP has already received suggestion for startups on the biotechnology sector. This has been forwarded to the department of biotechnology, he said.

START-UP POLICY

Abhishek also said that the Centre would like every State in the country have a start up policy of its own. "As on date only 15 states have their respective start up policy", he said.

In the last one year, nearly a dozen States have framed their own Start up policy.

[The Hindu Business Line]