Millennials are risk takers when it comes to cross-border online shopping. (Photographer: Xaume Olleros/Bloomberg)

Shopclues CEO Wants The Government To Let Startups Be

The government should just let startups be, said the founder of Shopclues on the measures that could help strengthen the industry.

The best that the government can do is let companies "work on their own, compete, and not be held back,” Shopclues CEO and Founder Sanjay Sethi said in a reiteration of Prime Minister Narendra Modi’s speech at the launch of the Startup India scheme. Sethi was speaking on the sidelines of the Global Entrepreneurship Summit 2017 at Hyderabad.

“Don’t give us crutches, because in the long run crutches don’t make us smart. We don’t innovate, we don’t run lean.”

The note ban and the Good and Services Tax are macro changes that have impacted the business for a quarter, Sethi said, likening these measures to corrective surgery. “Right after the surgery you are not as operational as you were before the surgery, but the idea is you will recover and become better.”