Start-up India: Sitharaman to Get Feedback From Startups Tomorrow

Commerce and Industry Minister Nirmala Sitharaman will tomorrow have an open chat with budding entrepreneurs.

Published: 15th April 2016 11:58 PM  |   Last Updated: 15th April 2016 11:58 PM   |  A+A-


Commerce and Industry Minister Nirmala Sitharaman (File|PTI)


NEW DELHI: To take stock of Start-up India action plan, Commerce and Industry Minister Nirmala Sitharaman will tomorrow have an open chat with budding entrepreneurs at a centre that provides basic facilities to new-age ventures.

"Rather than budding entrepreneurs coming to the ministry to raise their grievances and share feedback on the action plan, the minister has decided to visit the co-working office of young entrepreneurs and have an open chat with them about their expectations and experience," an official said.

The exercise is aimed at giving a thrust to budding entrepreneurs, he said.

As many as 50 start-up companies and over 70 budding entrepreneurs are expected to participate in the interaction with the Minister. Prominent ones include Velmenni Lifi, Fitternity, Glance, DeliveryTrack, FoodTalk, Chakar, BabyBug Step and Marketing Masala.

Some angle investors like Singapore angel will also be present.

In the Budget, Finance Minister Arun Jaitley announced a slew of initiatives, including 100 per cent tax exemption for three out of five years for startups set up during April 2016 to March 2019 aimed at facilitating growth for these new businesses.

Similarly to promote innovation, a special patent regime has been proposed with a 10 per cent rate of tax on income from worldwide exploitation of patents developed and registered in India.

Under the 'Start Up India Action Plan', the government also announced incentives including tax holiday and Inspector Raj-free regime besides capital gains tax exemption and Rs 10,000 crore corpus to fund them.

The commerce minister has recently said that the startup action plan has generated a buzz among budding entrepreneurs and several of them have been able to successfully attract funds from angel and other investors.

The ministry is also launching a "Twitter Seva", where in specified nodal officers of the ministry would respond to the issues being thrown up by startups or exporters on the micro blogging site.

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp