Launch of Startup India Movement

Launch of Startup India Movement
Tuesday, January 19, 2016
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Dear all,

Our  Hon'ble Prime Minister Narendra Modi launched the ambitious ‘Startup India’ campaign to boost digital entrepreneurship on 16/01/2016 in Vigyan Bhavan at New Delhi.

"Start Up India" is a revolutionary scheme that has been started to help the people who wish to start their own business. These people have ideas and capability, so the government will give them support to make sure they can implement their ideas and grow. Success of this scheme will eventually make India,  a better economy and a strong nation.

Here are top 10 key takeaways of PM Modi's action plan for Startup India campaign:

1. Startup India action plan: Self-certification based compliance and no inspection for the first three years.

2. Startup India action plan:Startup India Hub will be a single point of contact.

3. A mobile app to start a startup in one day. The app will have a small application form that can be easily filled for your registration.

4. Patents usually take months. Govt of India is bringing a scheme to make filing patents simpler. Trying to facilitate free patent filing and now Govt of India is reducing patent fee by 80 per cent.

5. Govt of India is also planning relaxed norms of public procurement for startups. There is no exit plan for startups at present. But now Govt of India is making faster exits for startups because failures shouldn't stop forever.

6. Govt of India is bringing a bill in Parliament to let startups can exit in 90 days. Prime Minister Modi appealed the youth to send the message to those holding up work in Parliament on Twitter and Facebook.

7. A dedicated fund with Rs 10,000-crore corpus will be created for funding of start-ups

8. A credit guarantee fund for startups and tax exemption will be given on capital gains. Three-year tax exemption for startups. Tax exemption on investments above fair market value.

9. Govt of India is trying to increase participation of women in startups.

10. Govt of India is starting the Atal Innovation Mission to give an impetus to innovation and encourage talent among our people. Govt of India shall have core innovation programmes in 5 lakh schools. A startup festival should also be started.

The soft copy of the news in respect of Startup India movement which appeared in Financial Express on dtd: 17/01/2016 is attached herewith. You are requested to go through the attachment for the detail of the movement by Government of India. 

Thanking you,
With regards, 

For Silvassa Industries & Manufacturers Association,     

Narendra Trivedi, 

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