India announces plans to relax rules on startup government contracts
Good news if you're building something new: India's government just announced plans to relax the rules that make it tough for startups to land contracts with the government.
Revealed at the curtain raiser for the National Startup Awards 6.0 in New Delhi, this move is all about helping young businesses get a real shot at early deals and break into vendor supply chains.
Government agencies to improve startup support
Even though some exemptions already exist, many startups still find government processes tricky.
So, the Ministry of Finance, the Ministry of Micro, Small and Medium Enterprises, and the Department of Public Enterprises are teaming up to create better support systems.
As DPIIT Secretary Amardeep Singh Bhatia put it, they want more private-sector involvement and hope some Indian startups will even make it to the Fortune 500 list in the next decade.