Start Up India- A great concept and a great initiative of PM Modi.

Discussion in 'Economy & Infrastructure' started by HariPrasad-1, Jan 23, 2016.

  1. HariPrasad-1

    HariPrasad-1 Senior Member Senior Member

    Jan 7, 2016
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    Hi Friends,

    PM Narendra Modi has floated a great idea of Start up India to encourage people to start new business. It is aimed to ease the business and promote innovation and help entrepreneurs. Let us discuss this concept of start up India and its implication on setting up new business and Job creations.
    One more such interesting concept is Make in india. However it is the idea of @gslv markIII, I leave it to him to open a thread on same. Moderators may Make this thread a sticky one.

    To start discussion, I post here one good article here.

    Start Up India, Stand Up India: 19 exciting plans for start-ups

    TAGS:Start UpStart Up IndiaStand Up IndiaPrime MinisterNarendra ModiInvestmentPoints
    Start Up India, Stand Up India


    On the last Independence Day, Prime Minister Narendra Modi had introduced the Start-up India, Stand Up India' initiative.

    On January 16, Prime Minister Narendra Modi unveiled a 19-point action plan for start-up enterprises in India. He also announced a self-certification scheme related to nine labour and environment laws. He also said that there would be no inspection of the enterprises during the first three years of the launch.

    Modi has announced an all-inclusive action plan to boost such ventures that would boost employment generation and wealth creation.

    Here are the 19 plans Modi has for start-ups:

    1. Self certification

    The start-ups will adopt self-certification to reduce the regulatory liabilities. The self-certification will apply to laws including payment of gratuity, labour contract, provident fund management, water and air pollution acts.

    2. Start-up India hub

    An all-India hub will be created as a single contact point for start-up foundations in India, which will help the entrepreneurs to exchange knowledge and access financial aid.

    3. Register through app

    An online portal, in the shape of a mobile application, will be launched to help start-up founders to easily register. The app is scheduled to be launched on April 1.

    4. Patent protection

    A fast-track system for patent examination at lower costs is being conceptualised by the central government. The system will promote awareness and adoption of the Intellectual Property Rights (IPRs) by the start-up foundations.

    5. Rs 10,000 crore fund

    The government will develop a fund with an initial corpus of Rs 2,500 crore and a total corpus of Rs 10,000 crore over four years, to support upcoming start-up enterprises. The Life Insurance Corporation of India will play a major role in developing this corpus. A committee of private professionals selected from the start-up industry will manage the fund.

    6. National Credit Guarantee Trust Company

    A National Credit Guarantee Trust Company (NCGTC) is being conceptualised with a budget of Rs 500 crore per year for the next four years to support the flow of funds to start-ups.

    7. No Capital Gains Tax

    At present, investments by venture capital funds are exempt from the Capital Gains Tax. The same policy is being implemented on primary-level investments in start-ups.

    8. No Income Tax for three years

    Start-ups would not pay Income Tax for three years. This policy would revolutionise the pace with which start-ups would grow in the future.

    9. Tax exemption for investments of higher value

    In case of an investment of higher value than the market price, it will be exempt from paying tax

    10. Building entrepreneurs

    Innovation-related study plans for students in over 5 lakh schools. Besides, there will also be an annual incubator grand challenge to develop world class incubators.

    11. Atal Innovation Mission

    The Atal Innovation Mission will be launched to boost innovation and encourage talented youths.

    12. Setting up incubators

    A private-public partnership model is being considered for 35 new incubators and 31 innovation centres at national institutes.

    13. Research parks

    The government plans to set up seven new research parks, including six in the Indian Institute of Technology campuses and one in the Indian Institute of Science campus, with an investment of Rs 100 crore each.

    14. Entrepreneurship in biotechnology

    The government will further establish five new biotech clusters, 50 new bio incubators, 150 technology transfer offices and 20 bio-connect offices in the country.

    15. Dedicated programmes in schools

    The government will introduce innovation-related programems for students in over 5 lakh schools.

    16. Legal support

    A panel of facilitators will provide legal support and assistance in submitting patent applications and other official documents.

    17. Rebate

    A rebate amount of 80 percent of the total value will be provided to the entrepreneurs on filing patent applications.

    18. Easy rules

    Norms of public procurement and rules of trading have been simplified for the start-ups.

    19. Faster exit

    If a start-up fails, the government will also assist the entrepreneurs to find suitable solutions for their problems. If they fail again, the government will provide an easy way out.
    A chauhan, Abhijat and ezsasa like this.
  3. HariPrasad-1

    HariPrasad-1 Senior Member Senior Member

    Jan 7, 2016
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    Boeing keen to make F/A-18 fighters in India: CEO Dennis A Muilenburg
    Published February 3, 2016


    Aircraft maker Boeing has offered to manufacture its F/A-18 fighter jets — the mainstay of the US navy — in India through the government’s Make in India programme, taking another stab at winning a potential multi-billion contract from one of the world’s biggest military spenders.

    “We are taking a hard look at the opportunity for the F18 fighter jet as an area where we can build industrial capacity, supply chain partnerships, technical depth, design and manufacturing capability in India, providing an operational capability that is useful for Indian defence forces,” Boeing Chief Executive Officer Dennis A Muilenburg said in New Delhi on Tuesday.

    “Make in India is an enabler aligned with that strategy,” said Muilenburg.

    The F/A-18 lost out in the government’s medium multi-role fighter aircraft (MMRCA) procurement programme — designed to replace ageing Indian Air Force jets — to French company Dassault Aviation’s Rafale fighter jets. But the Rafale deal for 36 planes, estimated to be worth $9 billion, has been stuck over negotiations over price.

    Boeing’s latest offer to help the government create an industrial ecosystem to build its fighter planes signals it sees an opportunity in the delays over the Rafale deal. Military officials and Defence Minister Manohar Parrikar have said the government is open to buying an alternative fighter jet.

    “Our intent here is to build an industrial framework for the long run that builds on the aerospace investments being made not only by programme by programme, but also by long-term industrial capacity that is globally competitive,” said Muilenburg, who is visiting India for the first time since becoming CEO of the $91-billion aerospace giant last July.

    The government has long been looking to end its reliance on foreign arms makers and create a homegrown military manufacturing sector. The Make in India manufacturing programme is expected to be a springboard to these efforts. The F/A-18 Super Hornet is a twinengine, supersonic, all weather multi-role fighter jet capable of landing and taking off from an aircraft carrier, according to the Boeing website.

    Muilenburg also said Boeing is in talks with low-cost airline SpiceJet for a potentially large plane order. “We are engaged in a dialogue with them and the new Max (Boeing 737 Max) is a very compelling value proposition.”
  4. HariPrasad-1

    HariPrasad-1 Senior Member Senior Member

    Jan 7, 2016
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    Japan’s ShinMaywa Industries, the manufacturer of US-2 amphibious aircraft that India is eyeing, is betting big on the ‘Make in India’ initiative and has offered to set up a plant here to cater to international demands.The move comes as the Navy plans to procure six such aircraft, under a government to government deal, between 2017 and 2022. Six are proposed to be bought in the next phase.

    “The deal when inked will have a 30 per cent offset clause. Under this offset clause, ShinMaywa wants to set up a plant in India to cater to the global market since the demand for the aircraft is high,” defence sources said.

    The project has been in the works since 2011 but got a renewed push following Prime Minister Narendra Modi’s visit to Japan in 2014 and a return trip by Japanese PM Shinzo Abe here last December.

    Sources said the deal could be be a “government to government” exercise with the initial purchase being off the shelf.

    “It is not simple to start manufacturing here. There has to be the necessary infrastructure and expertise,” sources said.

    If the deal goes through, it would be the first major export of Japanese defence item after it lifted decades-long self-imposed embargo on export of weapons.

    The aircraft, which can land on choppy waters and have long-range civilian and military applications, are being sought by the Navy to monitor India’s vast coastline, islands and for use is disaster relief.

    Sources said that for the Indian Navy, the next priority project is the P-75 India, under which it plans to build six more conventional submarines.

    Also on priority are six nuclear-powered submarines for which the Cabinet Committee on Security had given the go ahead last February.

    “P75I and nuclear submarines are the main focus right now besides the development of next indigenous aircraft carrier,” sources said.

    Amphibian aircraft can take off and land on both land and water. Seven of these aircraft are operated as Search and Rescue Amphibians by Japanese military.

    Including its predecessor US-1, the amphibians have been dispatched over 900 times to rescue victims of maritime accidents.

    A ShinMaywa representative said it has not tied up with any Indian firm for the project but has been in talks with several of them since 2011.

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