India Launches Campaign To Attract Investors To Startups
The Narendra Modi government has come under a lot of criticism for many of its policies but one of the biggest achievements of Modi and his government has been the emphasis put on creating and developing new opportunities for business growth. The ‘Make in India’ campaign has received a lot of attention during the last twelve months as Modi has used his international trips to promote India as a manufacturing destination and to invite companies to make in India.
The government is in the process of launching yet another campaign to promote India as one of the top countries for investors to tie up with start-up companies. The government is expected to run an aggressive global campaign and bring in millions of dollars to fund new start-up companies in India and has invited a number of consulting companies from across the world to send in their proposals.
The Department of Industrial Policy and Promotion (DIPP) will be in charge of rolling out a mega attract investment to Indian start-ups campaign that will cover print, social and electronic media outlets. The department which deals with foreign direct investment (FDI) is also in the process of establishing an interactive portal that will help monitor and track all proposals that come in as a result of the campaign. DIPP currently reports to the commerce and industry ministry.
PMO India: 16 Jan 2016
Earlier this year, Prime Minister Narendra Modi rolled out a number of new initiatives that were directed at encouraging start-up companies from flourishing in the country. Some of these initiatives included offering start-up companies tax exemption from capital gains, a special tax holiday and a three year inspector raj-free regime. With respect to the environment and nine labour laws, the government also introduced a new self-certification scheme that will assist start-up companies.
The DIPP recently issued a statement which said
The objective of the campaign is to generate awareness about the investment opportunities and prospects of the country, start-up action plan and to promote India as a preferred investment destination for new entrepreneurs with innovative business ideas.
While DIPP will focus its campaign on both domestic and overseas markets, a special emphasis will be placed on attracting overseas investment. India will be marketed and promoted as a destination that is favourable to start-up companies and a place where investors can find numerous start-up companies that are looking to launch new products and services in a variety of industries.
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