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THE MINISTER OF COMMERCE & INDUSTRY
(SHRI PIYUSH GOYAL)
(a) to (c): The Startup India initiative was announced by Hon’ble Prime Minister of India on 15th August, 2015. The flagship initiative aims to build a strong eco-system for nurturing innovation and Startups in the country that will drive sustainable economic growth and generate large scale employment opportunities. Further to this, an Action Plan for Startup India was unveiled by Prime Minister of India on 16th January, 2016. The Action Plan comprises of 19 action items spanning across areas such as “Simplification and handholding”, “Funding support and incentives” and “Industry-academia partnership and incubation”.
Since the launch of initiative in January 2016, there has been a substantial progress under Startup India Action Plan. A detailed progress made on 19 Action Points of Startup India Action Plan, including various initiatives encouraging students to take up innovation across all the economic sectors including semi-urban and rural areas is enclosed at Annexure-I.
DPIIT has held extensive consultations with all the stakeholders and has worked with relevant Government Agencies to identify and address the problems faced by Indian Startups. Many other initiatives beyond the Startup India Action Plan have also been undertaken to address the Tax and other regulatory issues faced by the Startup community for development of overall growth of Startup movement in the country. Summary of achievements made so far under such initiatives is attached at Annexure - II.
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