Modi set to unveil action plan for the Start Up India project today
NEW DELHI: With the government’s showcase event for entrepreneurs, Start Up India, taking place in New Delhi on Saturday, investors have sought tax exemptions and easier processes for opening and shutting a company.
PM Narendra Modi will launch the “start-up movement” by unveiling an action plan in the presence of 40 leading CEOs, venture capitalists, and angel investors from the Silicon Valley, including SoftBank CEO Masayoshi Son, WeWork founder Adam Nuemann, and Uber founder Travis Kalanick.
Investors’ association TiE Silicon Valley’s president Venktesh Shukla said a large number of start-ups were failing and “we should allow them to open and close their units in an easy way. It is extremely critical because a lot of their energy is wasted in unproductive work”. Norms should also be eased for Indian start-ups to raise money, he said.
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