India launches INR 100 bln fund, tax exemption for startups

Tuesday 19 January 2016 | 14:38 CET | News
India's Prime Minister Narendra Modi has launched a 19-point action plan to boost the startup sector. A fund of INR 100 billion (approximately USD 1.5 billion), as well as a 3-year tax exemption are among the set of recently announced measures to help the country's technology and other startups develop, International Business Times reports. The plan also includes an 80 percent rebate on patent applications for startups. They will also be exempt from income tax for the first three profit-making years, Modi said.

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Categories: General
Countries: India
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