Big boost for business Start Ups in India...?

If you are looking for ways to develop your business in India, or you are seeking a supportive environment in which to innovate, this might be an option.  
The Start-up India Action Plan is a set of structural and regulatory reforms designed to protect start ups in the face of aggressive anti competitive strategies from large established corporates.  

A ‘startup’ is judged to be an entity that is headquartered in India and was started less than five years ago. It needs to have an annual turnover less than US$3.7 million. It can be foreign owned, or initiated by entrepreneurs from outside of India.  


The benefits of the scheme include:
 
10,000 crore rupees funding available 
80% reduction in the patent registration fee and a simplified registration process
Modified and more friendly Bankruptcy Code to ensure 90-day exit window
Suspension of Labour and Environment Law inspections for 3 years
Freedom from Capital Gain Tax for 3 years
Freedom from tax in profits for 3 years
Eliminating red tape and self-certification of environmental compliance
Access to an innovation hub as part of the ‘Atal Innovation Mission’
New schemes to provide Intellectual Property protection
WHO COULD BENEFIT?

Those seeking to develop a new venture in India, particularly in the information technology or bio-science field. The venture must be developed with the aim of introducing a new and innovative solution, product or service. Additionally the business must be seeking to commercialise and profit from its activities rather than just invest in research and development. A qualifying start-up could benefit from a relaxed regulatory environment, access to seed capital and further funding either from an Indian bank or other investors associated with the scheme. 

FURTHER DETAILS

There is a detailed application process, and there are certain steps that can be taken to enhance the chance of qualifying under the scheme. The AGN member firm in India; Shankarlal Jain & Associates LLP can assist. For further information contact: 
Contact the AGN Firms best prepared to provide further information:
Shankarlal Jain & Associates LLP

Contact Person: Satish Jain
Phone: (+91) 22 22036623 / 22065739
EMail: info@sljainindia.com
Firm website: www.sljainindia.com

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AGN International Ltd is a company limited by guarantee registered in England & Wales, number 3132548, registered office 6 Hays Lane, London Bridge, London SE1 2HB, United Kingdom.
AGN International Ltd (and its regional affiliates; together "AGN") is a not-for-profit worldwide membership association of separate and independent accounting and advisory businesses. AGN does not provide services to the clients of its members, which are provided by Members alone. AGN and its Members are not in partnership together, they are neither agents of nor obligate one another, and they are not responsible or liable for each other's services, actions or inactions.

Copyright © 2020 AGN International Ltd, All rights reserved. You are receiving this because you are a member of AGN International Ltd




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