Today, in many international fora, India has been recognised as a digital power, S Krishnan, secretary at the Ministry of Electronics and Information Technology (MeitY), said at a virtual address to the Nasscom Future Forge 2024 event held in Bengaluru.
Apart from policy support and enabling requirements that big enterprises would have, there could be some ease of doing business issues for technology companies that require attention from time to time, and which are brought to MeitY’s notice, he said.
The ministry takes them up with relevant authorities like the ministries of finance and labour, Krishnan said.
For the IT ministry, one of the key areas of interest is application of products developed for niche markets, he said. “While there could be a lot of economic value that is generated in terms of products directed at niche markets and niche customers, for the ministry itself, one of the key areas of interest is how application of technology of this nature works,” he said.
Krishnan said in the design-linked incentive (DLI) scheme, the National Quantum Mission and the IndiaAI Mission, the startup funding on a grant-basis goes up to Rs 50 crore per case.
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Startups have been telling the ministry not to make grants and instead go for a deferred equity model, he said.MeitY has substantial research funds, he said, adding that the ministry would like to partner with industry to make this available to them.
