The government plans to exempt start-ups from various rules and regulations till they achieve a particular turnover in order to give a fillip to the sunrise sector.
"Lots of start-ups are coming up in the country and there is a need to provide a conducive environment for their growth," Secretary in the Department of Industrial Policy and Promotion (DIPP) Amitabh Kant said on Thursday.
"I think the challenge really is that how do we ensure that they (start-ups) do not have to go through any of the government procedures and regulations. We are pushing that for a particular number of years or till they achieve a particular turnover," he explained.
He said, "these start-ups will not have to go through the complicate procedures of company registration or labour registration or income tax processes, it is something which we are trying to evolve," he said.
Kant also said India was seeing a huge energy, vibrancy and dynamism in start-ups and the country has to encourage a lot of people to get into manufacturing. Start-ups have to be given a major thrust, he added.