Speaking at the annual session of PHD Chamber, Commerce Minister, Shri  Suresh Prabhu said that  a standing committee, chaired by Secretary- DIPP  has been set up to identify and scrap unnecessary and unproductive regulations which are coming in way of India's capacity to become a $10 tn economy.

He added that although India has made significant progress in ease of doing business but it still has a long way to go.

Talking about promoting start-ups, he said venture capitals should invest more in start-ups as they give maximum returns on investments. The government is taking several steps to remove bottlenecks for the growth of budding entrepreneurs in India.