The Confederation of Indian Industry (CII) will ask the Centre to relax some of the statutory requirements for start-ups initially, to make life simpler for them to focus on business growth and start generating revenue.

Addressing the media at a press meet on CII Startupreneurs, a platform for entrepreneurs to showcase their ideas, Lakshmi Narayanan, Vice-Chairman of Cognizant Technology Solutions, said CII has suggested to the Government to relax official procedures like pan card registration and setting up Provident Fund for employees for the first two years.

As a start-up generates revenue only after two years, that too with minimum funds, registering for Pan Card and setting up Provident Fund for employees can be tough, Narayanan said.

In addition, this will also help reduce the burden on the Centre as not all start-ups last for two years, he added.

SN Eishenhower, Chairman of CII Tamil Nadu, said CII is reaching out to start-ups in Coimbatore and Madurai and encouraging them to participate in events, in order to develop a robust ecosystem in those places as well.

Smaller cities

Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited, said entrepreneurs from tier-II and tier-III cities should be recognised in order to bring in holistic economic development for the State.

Anand P Surana, Chairman, Taskforce Entrepreneurship, CII Chennai Zone, said CII Startupreneurs will organise Expo 2015 on December 16, in Chennai to bring for entrepreneurs to showcase their ideas across diverse sectors.

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