The 'Start-up India, Standup India' initiative of the government unveiled a 19-point action plan for startup businesses in India. The Prime Minister announced an all-inclusive action plan to boost such ventures that would boost employment generation and wealth creation.
While inaugurating the ASSOCHAM World Entrepreneurs Day Summit, on August 18, 2017, Dr. Jitendra Singh, Union Ministertermed the 'Start-up India, Standup India,' programme as the most unique programme in the world as it offers unprecedented incentives like three years of tax holiday and three months of exit period. It would help the youth of the country to showcase their talents through innovative businesses.
He added that a big headway has been made and entrepreneurship potential of India at all levels of society is now being realised. We see a trend of reverse brain drain in India over the course of past couple of years. "That kind of milieu has been provided
infrastructural difficulties were there," said Dr. Singh.
As a result of proactive outreach by the Prime Minister himself, it is not only the foreign investors who are now looking up to India as a destination, many of those who had left India in search of green pastures and settled abroad are now looking forward to opportunities to get back to India, he added.
"Sothis itselfisa very impartial evidence of the kind of change in the business atmosphere which is being witnessed in India and I am sure in the years to come this country is going to be one of the most attractive destinations for startups and entrepreneurs," said Dr. Singh.