6 Moments That Confirm That India Is Ready For A Startup Revolution

By Sahil Sharma: 

These 6 moments from the #StartUpIndia event confirm that India is ready for the Startup revolution.

1. Prime Minister Narendra Modi announces Rs 10,000 crore for funding startups in India.

This was the one big announcement made by PM Modi while addressing the startup meet in New Delhi.

2. Startups don’t need to pay income tax on the income they make in the first three years.

Another big announcement made by the Prime Minister in his address. Earlier in the day, Finance Minister Arun Jaitley said startup friendly tax measures would be announced in the upcoming budget.

We would have to wait till the next month to see what those special measures will be but this is a welcome remark. A tax break for startups would make it easier to get more investors on board.

3. Secretary, Ministry of Corporate Affairs, Tapan Ray announces that the government would be expediting startup registrations to 24 hours.

Gone are the days when you had to wait days or maybe weeks to get your business registered. If you have a great business plan and startup capital, you will soon be able to register your business in a day.

4. “We will end licence raj for startups”, says Arun Jaitley.

Adding to the 24 hours registration policy, the finance minister also assured the gathering in New Delhi that the red-tape culture would be dealt with swiftly to encourage more startups.

5. Encouragement for women entrepreneurs.

A special session for women entrepreneurs was held during the meet. The highlight of the session was a quote from Anisha Singh, the co-founder of Mydala, who said — “I want to be recognized as a successful entrepreneur, not just as a successful woman entrepreneur.”

6. Masayoshi Son, founder and current chief executive officer of SoftBank, says they will increase investment in India. It could exceed $10 billion.

New businesses are always looking for investors and Masayoshi Son promised to be an avid investor to startups in India.