Over 400 budding entrepreneurs have filed applications with the Department of Industrial Policy and Promotion (DIPP) for recognition as innovative startups to avail tax breaks and other benefits. An inter-ministerial committee, which assessing such applications, has already considered 189 request…
Tag: Narendra Modi
Policy changes to bring more startups in medium industry
The government is considering policy changes to broaden and energise one of PM Narendra Modi’s pet initiatives, Startup India, to include a bigger number of startups under the ‘medium industry’ category that would be eligible for public procurement incentive and preferential ben…
Debt-free SMEs cash in on growth revival
For Rohan Sharma, business has never been better. Sales at his autoparts company in Gujarat are booming and the order book has almost doubled in the past year. His Bhagirath Coach & Metal Fabricators has just invested $120,000 in new machinery and plans to spend up to $1.2 million this year t…
Private incubators too may be allowed to certify startups
The government’s Department of Industrial Policy and Promotion (DIPP) will issue a notification to put in place a framework to enable private incubators certify startups as part of its Startup India plan making them eligible for tax benefits and other facilities, official sources told. R…
Air India gives Rs 8-crore khadi order
In a major move which may give a fillip to the initiatives of the Khadi & Village Industries Commission (KVIC), Air India has placed its second order of worth Rs 8 crore to the commission. The order has been placed for the supply of 1,85,000 units of amenity kits. Earlier in December 2015, th…
Two ‘Make-In-India’ industries get plots
The MIDC has allotted plots to two industries in Nashik region, which had signed memorandum of understanding (MoU) with the state during ‘Make in India’ week held in Mumbai in February. The Maharashtra Industrial Development Corporation (MIDC) has allotted a 5,000 sq metres plot to Gr…
1.04 crore people benefitted from Skill India program, up 36.8% from previous year | Rajiv Pratap Rudy
As the Narendra Modi government completes two years in office, it has been reported that over 1.04 crore people have benefitted from the Skill India program – a massive 36.8% higher than the previous year, according to recorded data. “The skill training and development ecosystem has s…
Entrepreneurs from India driving innovation | Satya Nadella Microsoft CEO
Microsoft CEO Satya Nadella on May 30 said that developers and entrepreneurs from India are playing a key role in driving innovation — both in the country and outside — and the company wants to be the platform for creators in the country. Nadella, who was on a one-day trip to India, addressed stu…
Sitharaman takes startups’ tax holiday plea to Finance Ministry
To make Startup India more lucrative, the Ministry of Commerce & Industry has approached the Ministry of Finance with an industry proposal to widen the income tax exemption period from the current three years. “I have been interacting with the startups and a lot of them are in touch wit…
Bahrain wants India to mentor its financial technology & gaming startups
Startup India has struck a chord with Bahrain, so much so that the West Asian country wants to have its own version of the programme initiated by Prime Minister Narendra Modi. Bahrain wants Indian startups working in areas of financial technology and gaming in particular to expand base in the cou…