Startup India Action Plan by India's PM Mr. Narendra Modi

India's Prime Minister Mr. Narendra Modi launched startup India Action Plan on 16th January 2016.

The following are the keypoints of the startup India action plan for growth of startups in India.

1. Compliance Regime based on Self-certification
2. Startup India Hub – A single point of contact for the entire startup ecosystem
3. Rolling out of a Mobile App & Portal – Starting a Startup in 24 hours on a Mobile App
4. Fast track mechanism of Startup patent applications
5. Relaxed Norms of Public Procurement for Startups
6. Faster Exit for Startups
7. Rs 10,000 crore Fund of Funds for funding support
8. Credit Guarantee Fund for Startups
9. Tax Exemption on Capital Gains
10. Tax Exemption to Startups for 3 Years (for startups registering after April 1, 2016)
11. Tax Exemption on Investment above Fair Market Value
12. Organising Startup Fests for Showcasing Innovation and Providing a Collaboration Platform
13. Launch of Atal Innovation Mission (AIM) with Self-Employment and Talent Utilisation (SETU) Program
14. Harnessing Private Sector Expertise for Incubator Setup
15. Building Innovation Centres at National Institutes
16. Setting up of 7 New Research Parks Modeled on the Research Park Setup at IIT Madras
17. Promoting Startups in the Biotechnology Sector
18. Launching Innovation Focused Programs for Students
19. Annual Incubator Grand Challenge