Centre has prepared an action plan for 22 sectors under ‘Make in India’ initiative to help new entrepreneurs in the country, parliament was told.
In a written reply, Commerce and Industry Minister Nirmala Sitharaman said that an investor facilitation cell has been created in in the country to assist and handhold investors.
She added government rolled out a start-up action plan to create a favorable environment for new entrepreneurs in the country.
Start-up action plan includes simple compliance regime for them based on their self-certification. A portal and mobile app for information exchange was also launched.
Sitharaman said that a Start-up India Hub was set up to handhold new entrepreneurs during numerous phases of their development along with legal support and fast-tracking patent examination at reduced costs. The government relaxed norms of public procurement and faster exit for startups.
She also informed the House that start-ups would be provided funding support through a fund of funds with a corpus of Rs.10,000 crore.