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Commerce Minister Smt. Nirmala Sitharaman says Government will hold to have all stakeholders of the Startup ecosystem on board in making India one of the best Startup destinations in the world.

News and Press Release - Dated:- 29-7-2016 - Press Information Bureau Government of India Ministry of Commerce & Industry 28-July-2016 20:51 IST The Startup India initiative is designed to foster innovation, create jobs and facilitate investment. .....

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remains to be done. The Ministry of Commerce and Industry believes the way forward is to have all the stakeholders on board to take the initiative forward and act as a facilitator for Startups to flourish. With the agenda of creating a conducive Star .....

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k and to discuss the key challenges faced by them. Some of the prominent names which were part of the meeting are Paytm s Vice President Sudhanshu Gupta, Ola s Senior Director Anand Subramanium, Suraj Saharan, Co-founder of Delhivery, Nykaa.com s CFO .....

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ng that that this is the first in a series of dedicated meetings that the Government will hold to have all stakeholders of the Startup ecosystem on board in making India one of the best Startup destinations in the world. She urged the participants to .....

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mplicated paper work involved in all government compliances, tedious import/export procedures, need of clear definition of Aggregators under the Service tax among many others. Some of the suggestions made by Startups were to have a checklist for all .....

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y also suggested that, as has been done by the government, banks should also be asked to exempt the Startups from turnover and experience criteria to enable them to participate in the procurement process. The participants mentioned the difficulties f .....

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done away with. They also mentioned that access of credit through banks should be simplified and the time taken should also be reduced. For easier compliance towards various rules and regulations they suggested that a handbook should be prepared and .....

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er 5 years now. Similarly the time taken for examination of trademark applications will become 1 month by March 2017. He also highlighted that the patent applications of Startup are eligible for expedited examination and reduced fee as per the revise .....

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