Prime Minister Narendra Modi has launched another flagship scheme of Govt. of India, ‘Startup India’, setting the stage for more entrepreneurial activity in India. The new initiative of Govt. of India, ‘Startup India, Standup India’, combines robust financial and legislative framework for the benefit of startups that include tax exemption on capital gains and income tax holiday for three years, easy exit with the help of the proposed Bankruptcy code; no labour inspection for initial 3 years; funding support worth Rs. 10,000 crores (apporx. Euro 133 million); Incubation centres across the country; relaxed norms of public procurement among other incentives.
India with an economy of US$ 2.2 trillion of 1.3 billion people, the role of start-ups in sustaining the current economic growth needs no over-emphasis. According to NASSCOM, India has moved to third position in the number of startups with the fastest growing base worldwide. India’s demographic dividend, increased penetration of information technology, strengthening ecosystem and funding scenario coupled with ample availability of guidance and mentorship can provide the necessary thrust to sustain the growth momentum.
In initial days, Indian startup ecosystem had to face hardship because of inadequate social and commercial acceptability, limited financial support. In last decade or so much has changes to make ‘Startup India, Standup India’ an achievable mission. Entrepreneurs are being supported by an ecosystem of academic institutions, incubators, angel investors and venture capitalists.
The proposed event on 18 May 2016 is an attempt to bring together potential entrepreneurs together both for the purpose of sharing experience in building processes, products & services and new ideas for business realization.
The interested participants are requested to fill-up the enclosed proforma and send the seam to us by 15th April 2016.
Consul (Eco & Com)
Consulate General of India