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Budget 2018: What fashion, start-up bosses want from FM Jaitley

The Government had decided to relax the norms for Startup MSMEs. According to the decision, if the MSMEs can deliver the goods and services as per prescribed technical & quality specifications, the norms on prior experience and prior turnover will be relaxed for them. This will help the Startup MSMEs to take part in the mandatory 20 per cent public procurement from MSMEs. The relaxation has been made to create a conducive environment for the startups in India, which is high on the agenda of the Government.

But unfortunately this is rarely followed by the procurement agencies of various departments. It is really the need of the hour to implement the same in order to help start-ups grow and contribute significantly to the economy. 

Incentives to motivate people to remain in rural environments will have a direct impact on artisans and weavers who often abandon their traditional careers in search of more lucrative city employment. This will be a boon to the fashion industry which is very dependent on weavers and craftsmen. There is a need to focus on education in the rural parts of the country. 
The government should give more tax cushion to start-ups. While the government has been supporting the sector, with initiatives like start-up India that have given a push to the sector, more support in the direction will help us grow. A recent survey said that e-commerce will grow 19% this fiscal. With such great potential and possibilities to create new job opportunities in the sector, we expect tax friendly measures to further stabilise and provide momentum to e-commerce sector.