Parrikar said that under the new off-set policy, defence firms can invest in skill development to comply with their required commitment.
The Minister, while making it clear that he was speaking as a former entrepreneur, said that the start-ups should be given five-year relaxation from taxes and other regulations.
Incidentally, Prime Minister Narendra Modi's new initiative Startup India offers a three-year tax rebate.
Speaking at an event organised by Wadhwani Foundation, Parrikar said the Government is also considering venture capitalist investment in defence sector.
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