India launches Startup Action Plan to promote entrepreneurship

The government has launched the Startup India Action Plan to promote promising entrepreneurs in the country.  The plan aims to give incentives such as tax holiday, inspector raj-free regime and capital gains tax exemption.

Prime Minister Narendra Modi said: “Our startups are growth engines. Today’s big companies were startups at some point. I urge the people of India to keep innovating.”

Modi interacted with young entrepreneurs from across the country, including cities like Dehradun, Guwahati and Raipur. He also added that smaller towns and villages too are emerging as vibrant startup centres. 

“Adequate capital, courage and connecting with people are required for excelling in the startup sector,” he said.

Modi mentioned that there was a time when startups meant only digital and technology innovation. However, things are changing and the government is seeing startups in various other fields, including agriculture.

“We have started an Agriculture Grand Challenge. We invite more youngsters to ideate on how to transform our agriculture sector,” he added.




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