India needs to have more incubators and more start-ups: GM Rao
July 19, 2014
Business Today spoke to GMR Group Chairman GM Rao on what he thinks about Finance Minister Arun Jaitley's Budget for 2014-15 financial year.
"It's good to see that the finance minister is looking to propel innovation. India needs to have more incubators and more start-ups. Rs 10,000 crore is a good start and will give an impetus to entrepreneurial capabilities in the country.
The importance of skill development for sustainable growth has been recognised. We are confident that setting up of quality educational institutions for developing a skilled work force will be a positive step towards the country's economic growth.
We welcome the announcement of 3P India-the agency to streamline and address the issues that the developers have been facing. The critical financing support that the Infrastructure sector was seeking-like Infrastructure Trusts, long-term financing by banks, development of the bond market-have been given a green signal.
Various enablers have been set for banks to fund infrastructure. On the equity front, ADR/GDR liberalization is encouraging."