HYDERABAD: Pointing out that the Central government’s emphasis is on startups, IT and Industries Minister KT Rama Rao said that the current period is the best time to be an entrepreneur or to establish a startup.
Speaking at the Confederation of Indian Industry’s MAN’EXE 2019, he said, “I don’t think there is a better time in our lifetime than this to be an entrepreneur. Because we have a government which talks about startup India and standup India. Never has a government encouraged innovation at this scale.”
As for Telangana, he said, “..much before the government started Standup, we had already stood up and started running.” Rama Rao also appreciated the corporate tax reduction in the country and said that that “there won’t be a better time to invest in the country”.
“After the recent corporate tax reduction from 34 per cent in the manufacturing sector to 15-17 per cent, I don't think there is a better time to invest in India and in manufacturing,” he said.
“Now you are on a level playing field with Cambodia, Malaysia, Ethiopia, Indonesia and Vietnam, which have been doing good off late because of various reasons. Now India is also on the same level,” he added.
He also said that the country can benefit from the current ongoing US-China trade war.
“We can definitely feed off the trade war that is going on between the United States and China. We can certainly leverage this opportunity to leverage more opportunities from our country. Telangana being a progressive State, any manufacturing that will come our way we will certainly be there to welcome them with a red carpet to create more local opportunities,” he said.