Government of India has taken many important initiative to encourage and boost startup in India. Some of the notable initiatives are as follows:
Govt. has developed man websites and apps in which a person want to start a business can easily registered and submit some required documents. The whole process is completely online. Which make it very easy for the people to start their business.
Govt. Also provide many patents and trademarks right. Govt. Provides high quality intellectual property rights at low cost.The government will bear all facilitator fees and the startup will bear only the statutory fees. They will enjoy almost 70 to 80 percent reduction in cost of filing patents.
No need to pay tax for 3 years:
Startups will be exempted from income tax for 3 years provided they get a certification from Inter-Ministerial Board. Which they can reinvest in business.
Saving tax of investors:
People investing their capital gains in the venture funds setup by government will get exemption from capital gains. This will help startups to attract more investors.
Easy to raise fund:
An amount of almost 90,000 to 10,000 crore rupees fund is set-up by government to provide funds to the startups as venture capital. The government is also giving guarantee to the lenders to encourage banks and other financial institutions for providing venture capital.
There are lots of several other benefits like easy exit and meet to other investors. So for somehow it became easier for the entrepreneur to start their career in business world.