Prime Minister Narendra Modi unveiled his government's Start-up India policy at an event held in Vigyan Bhawan, New Delhi on January 16, 2016. The 19-point Action Plan aims to take forward the startup culture, making it easier for young, aspiring Indians to build on their business ideas.
While the jury is still out on the fine print of the policy , here are some quick reactions from some of India's top entrepreneurial minds:
With any doubt, it is an inspiring initiative. Kudos to the PM and his Team. 3 years IT exemption is not a big attraction. Rather a note on ceiling hike in Service Tax and support on other Transaction Taxes, would have been music to ears. Start up in India is moving to a mature phase. Now on any wise investor will look more for traction in the form of User Base, Revenue and Gross Profit. To get the initial user base and to increase it to a respectable level, an entrepreneur might have to face a price war with established players. In such scenario, the Start up will have higher revenue with thin margins. Service Tax, though is charged on the client, is a cost component to the client and that will be a crucial factor.
on Jan 19, 2016