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India is planning start-up exchange programmes with its neighbours to boost entrepreneurial cooperation in the region, reported Economic Times (ET).
After developing a framework for exchange with Bangladesh, India is now planning to execute a similar initiative for Bhutan and Nepal, according to the ET report.
India in its exchange programme aims to support exchange visits between startups from India and the neighbouring countries to facilitate and enhance partnerships, business relations and knowledge exchange. Which in turn can help boost the subcontinent's economy through the exchange of ideas in emerging areas of technology and innovation.
India has already carried out a few exchange programmes, however, the country is now planning to organise a more structured and broader exchange programme annually with startups from Nepal and Bhutan.
With several unicorns coming up in India, the demand for such exchange programmes has only increased over the past few years, the ET report said citing a government official.
Such exchange programmes in the region will not only help MSMEs in the region but also provide support for Global Value Chains (GVC) that are looking to make a shift.
Since 2016, India has tried to ease the policy atmosphere for startups. Until now, the Department for Promotion of Industry and Internal Trade (DPIIT) has recognised more than 61,000 startups across 55 industries.
As India pushes for resilient GVCs through its G20 presidency, the development of such regional chains with a focus on startups can help India as well as its neighbours.
