Business

The pace of startups in India has increased at the end of the world, with more than five thousand registered in four months

While global economic activity has stagnated in the wake of the corona infection, startups in India have grown. According to the Department of Industrial Promotion and Internal Trade, 41,190 startups have opened in India as of December. Their number in February 2020 was 29,017.

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India’s economy began to affect the world as soon as the Corona transformation began in March, but Prime Minister Narendra Modi’s call and the mantra of a self-reliant India acted in such a way that the people of the country saw the transition challenge as an opportunity. Changed, the country has become the third largest startup ecosystem in the world.

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Not only that, this year 50 percent more recognition has been received than in 2015. Economists say that these initiatives will play an important role in the state of development and direction of the country and perhaps the economy can make a living from it. This shows the morale of the people of the country. With the onset of corona infection, a horrible situation was created in the country, starting from the availability of PPE kits, masks and sanitizers.

In the face of this crisis and the formation of the National Startup Advisory Council, the resolutions helped greatly in building a strong startup ecosystem. In addition, the central government has offered a number of exemptions, including a 70 percent discount on 2,775 patent applications and a 50 percent discount on 5,944 trademark applications.

Startups have grown in these regions

Areas in which start-ups are trending during this period include e-commerce, health and related components, agriculture, education, fintech, digital technology, energy, finance, internal security, space. In addition, corona infection maintenance and maintenance assistance to homes and companies, awareness and maintenance of corona infection among employees in companies, tourism and city services services, including ancient Indian lifestyles.

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These big changes happened to promote startups

In the meantime, a number of major steps have been taken by the Department of Industrial and Internal Trade Promotion. 39 regulatory reforms were introduced to facilitate early development. Income tax was waived, turnover was raised to Rs 100 crore. In this, the losses eligible for 3 years income tax exemption under section 80 and section 799 of the IT Act will be taken forward.

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