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DPIIT panel for VCs & startups

The Department for Promotion of Industry and Internal Trade (DPIIT) has decided to set up a bimonthly and quarterly panel to address the grievances of venture capitalists and startups. It will be chaired by Hon’ble CIM Shri Piyush Goyal and comprise of senior officials of various government departments like finance, corporate affairs, central board of direct taxes (CBDT), central board of indirect taxes and customs (CBIC), Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI), along with the department of financial services. As quoted by DPIIT Secretary Dr Guru Prasad Mohapatra, the panel will also include venture capital association members and startups. He added that it will take up issues that are raised pre-budget or have a long term effect on the startup ecosystem. Through this council, the Indian government wants to facilitate foreign investment into Indian startups.