India making startups in north-eastern states lucrative

There has been an number of youngsters from across India approaching the union government to set up startups in north-eastern states under the ‘Startup India, Standup India,’ programme, Dr Jitendra Singh, Minister of State, Prime Minister Office, Government of India has disclosed this at the Annual Meet of Entrepreneurs and Innovators held in New Delhi on the occasion of the World Entrepreneurs’ Day 2017.

“Any youngster who decides to set up startups in north-east will in addition to all the provisions available in the Government of India programme will get initial venture capital fund from North-East ministry, so that they do not have any financial liability,” said Dr Singh said.

The minister also said that the government is building necessary infrastructure to promote north-eastern states as a favourite destination of startup ventures in the country.

He also termed the ‘Startup 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.

Dr.Singh said that it is due to present government’s efforts that a big headway had been made and entrepreneurship potential of India which was not being realised earlier at any level of the society is now being realised.

He also said that a reverse brain drain has been happening in India during the course of past couple of years.

“You must have realised that 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,” said Dr Singh.

“This is the phenomenon that I have observed only in the last 2-3 years,” he added.

“So this itself is a 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,” the minister added.