Kris Rasmussen

How can India grab the opoortunity when the great migration in manufacturing is happening ? India’s ambition to become a global #manufacturing powerhouse depends on the success of its homegrown innovators. Here’s what the government can do to unlock the full potential of #deeptech and #hardware #startups. @narendramodi ji and @PiyushGoyal ji, sharing a 6-point simple and actionable agenda for taking baby steps and fueling a larger movement: Fast-Track GST Refunds Expedite GST refunds, which currently take over 60 days and are often mired in red tape. Startups face working capital crunches due to delayed refunds and unofficial practices. A transparent, tech-enabled refund process can free up vital cash flow. Expand PLI Beyond Phones and Laptops Introduce a dedicated PLI scheme for deep-tech and hardware startups beyond consumer electronics. India must incentivize domestic R&D and IP-led manufacturing in categories like smart home, healthcare tech, robotics, and industrial IoT. Enable Debt Financing Against Purchase Orders Most early-stage manufacturing startups are excluded from schemes like CGTMSE due to the 3-year track record requirement. A startup-friendly PO-backed financing mechanism would bridge the capital gap and support delivery commitments. Fast-Track AEO Certification for Startups Allow eligible startups to obtain Authorized Economic Operator (AEO) status to simplify and prioritize customs clearance for both imports and exports. This would reduce friction and increase reliability for global supply chain partners. Provide Mold Development Credits Offer financial support or tax credits for tooling and mold making—a major upfront cost in manufacturing physical products. This will significantly lower barriers to entry for hardware innovation. Wage Subsidies for Line Operators (First 5 Years) For startups generating employment on the factory floor, subsidize wages for line operators during the first five years of operations. This would boost job creation, formal employment, and long-term ecosystem building. #easeofdoingbusiness @makeinindia @investindia @DPIITGoI @startupindia

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