At the ‘Startup India’ event being held in Delhi, Prime Minister Narendra Modi launched the ‘Startup movement’ by unveiling the ‘Startup Action Plan’ aimed at boosting entrepreneurship at the grassroots level. “The launch event aims to celebrate the entrepreneurship spirit of the country’s youth and is being attended by CEOs and founders of top startups from across the country and abroad – aim of the mission is to promote bank financing for startup ventures and offer incentives to boost entrepreneurship and job-creation. PM also underlined the Startup India objective, which is to reinforce commitment of the government towards creating an ecosystem that is conducive for growth of startups.
Here are the highlights of PM Narendra Modi speech at the Startup India event:
1. Narendra Modi: I had spoken about Startup India from the ramparts of the Red Fort and today we are seeing what this is about.
2. Narendra Modi: Start up does not mean billion dollar company where thousands of people work. It is about employing even 5 people & developing India.
3. Narendra Modi: This startup movement is not merely guided by money or name & fame. The purpose is beyond that.
4. Narendra Modi: Success of startups is not only about enterprise. It is also about risk taking and adventure too.
5. Narendra Modi: Yes, we have a million problems but at the same time we have over a billion minds.
6. Narendra Modi: When I say start up India, it is implicit that I say Standup India. India is blessed to be a nation of youngsters.
7. Narendra Modi: I hereby announce 80 pct reduction in patent fee for startup businesses.
8. Narendra Modi: A dedicated fund with Rs 10,000-crore corpus will be created for funding of start-ups.
9. Narendra Modi: Startups to get 3-year income tax holiday; Capital gains tax to be exempted for venture capital investments.
10. Narendra Modi: We are starting the Atal Innovation Mission to give an impetus to innovation and encourage the talent among our people.