On Tuesday, at the prestigious Brookings Institute think-tank, Union Finance Minister Nirmala Sitharaman said that the Indian government is ready to address the issues and assist the startups contemplating moving abroad to make them stay in India.

She added that Prime Minister Narendra Modi himself engaged with startups, and the government’s policies have created an enabling environment; as a consequence, there are more than 100 unicorns in India.

Moreover, FM Sitharman said that the startups are moving to Singapore and UAE, so continuous engagement with the startups might help them to stay in India and do better; if there is a temptation from outside which are luring them, then the government needs to understand how much they can serve on those courses. Further, she added that the government is making special efforts to encourage startups in the Northeast. Addressing the potential that Northeast has in terms of startups, she said that IIT Guwahati has a lot of interactions with the industry and encourages by throwing up challenges for the startups to come up with solutions.

At the event, she also stated that India’s startup ecosystem is built well. All the one hundred unicorns were valued at USD 250 billion and have managed to raise USD 63 billion from the capital market.