Govt. to give preferences for local products and services in procurement processes

Dr. Ajay Data, Founder and CEO, VideoMeet

"The Union Budget 2021-22 is going to play a crucial role for the Start-up industries, as India being a developing nation has undergone massive changes during the pandemic year. There has been tremendous growth in indigenous Start-ups and Apps as the products and services proposed come not only with great potential, but also provide high utility value as per the changed lifestyle due to the prevalent WFH trend.

The support from government has to come in terms of making access to capital and incubation easier. The series of terms and conditions, documentation, must be planned and established in such a manner that they do not come across as an obstacle but rather accelerate the functions of these new-age businesses. Additionally, the organizations which have decided to completely go online must also be given special consideration, as they will be in need of working capital throughout their journey to be at par with traditionally established players.

Our honourable PM has been heralding the message of 'Vocal for Local'. I would expect govt. to give preferences for local products and services in procurement processes. An independent association for Indian start-ups that comprises industry players must also be encouraged to bridge the communication gap between government authorities and budding entrepreneurs."