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SCO meet: India calls for special working group on start-ups

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Startups, pharma Cos face tax liability on new goodwill rulesNew Delhi, Oct 15 (IANS) India has proposed creation of a new Special Working Group on Start-ups and Innovation at the SCO.

The proposal was made by Minister of State for Commerce and Industry Anupriya Patel, in her intervention, at the 20th meeting of the SCO Ministers.

Stressing on the need for effective cooperation between the member states for a balanced and equitable growth in trade and commerce, Patel proposed the creation of a new Special Working Group on Start-ups and Innovation and for setting up a new Expert Working Group on Cooperation in Traditional Medicine.

“She also stated that cooperation in the field of start-ups and innovation can be a focal point in reviving our economies from the consequences of the pandemic,” the Ministry of Commerce & Industry said in a statement.

She highlighted that there is “a significant gap in digital technologies between developed ang developing countries which needs to be narrowed down by building digital capacities”.

On the environment issues, the minister welcomed the need for environment protection and mitigation of adverse effects of climate change.

She also stressed that the climate agenda should not introduce measures which becomes unnecessary barriers to trade.

In her concluding remarks, Patel emphasised that SCO members must prepare, act and stand in solidarity with each other and pursue an agenda that is equitable and inclusive and development oriented.

Source: IANS

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