India has undergone a paradigm shift owing to its competitive stand in the world. The Indian economy is on a robust growth trajectory and boasts of a stable annual growth rate, rising foreign exchange reserves and booming capital markets among others. ‘According to UNCTAD’s World Investment Report 2015, India ranks third among most prospective host economy for 2015-17 (after China and the US) in the world, as per a survey among Multi National Enterprises.
“Start-up India” Initiative was announced by Prime Minister Shri Narendra Modi on 15th August 2015 while giving his speech on Independence Day. The objective is that India must become a nation of job creators instead of being a nation of job seekers. The program took its shape and the action plan was launched on 16th January, 2016. With this White Paper we aim towards solving the challenges faced by the startups in the current scenario in order to understand the program and related policies. The updated information along with related sources and links will help the readers get the insights of the Start-up India Action Plan and the processes to be followed in order to avail the benefits of the plan.
Startup India is an initiative of the Government of India which is intended 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. The Government through this initiative aims to empower Startups to grow through innovation and design.
In order to meet the objectives of the initiative, Government of India has announced this Action Plan that aims to address all aspects of the Startup ecosystem.