Saturday March 24, 2018
Home Business Startups to g...

Startups to get freedom from ‘License Raj of India’: Jaitley

start ups

New Delhi: Aiming to expand the number of startups in India, Finance minister Arun Jaitley on Saturday said that his government will put a new tax regime for startups.

Claiming that the tax regime would usher in a new era for the startups, he further said, “it is a final break from the conventional License Raj of India”.

Underlying the importance of startups, the finance minister said that these small business organizations would serve as an alternate engine of growth during the poor phase of the world economy.

The Human Resource Development Ministry and the Department of science and Technology have agreed to jointly assist an initiative to set up 75 startups.

Notably, the HRD Ministry was already assisting the startup incubation centers in the NITS, IITs and IISERs.

‘Startup India’, held at Vigyan Bhavan witnessed the presence of over  1500 top entrepreneurs across the country.

During his address, Jaitley said “I must confess that we normally have a large number of formal launches in this plenary hall of Bigyan Bhawan. But this one is with a difference. Because it is probably the first time I see a large number of potential entrepreneurs here, most of whom I am not familiar with. Otherwise, at the formal launches, we always have the usual suspects.”

Masayoshi Son, founder and CEO of Soft Bank, and Travis Kalanick, founder of Uber were among the other speakers.

Prime Minister Narendra Modi is expected to meet with the entrepreneurs.(Inputs from agencies)

Click here for reuse options!
Copyright 2016 NewsGram

Next Story

Top 10 startups funded by celebrities

The buzzword of Indian economy 'Startup' gaining the attention of celebrities

Funds Ziddu. Wikimedia commons
Funds Ziddu. Wikimedia commons

Recently celebrities have been ready to invest in valuable startups. India has become one of the fastest growing startup ecosystems in the world, hence many celebrities seem to have growing business interests.

Here is the list of top 10 celebrities which are funding some major startups.

You may also like: Startup and a more competitive India

1. Ziddu funded by Amitabh Bachchan

Funds Wikimedia commons
Funds Wikimedia Commons

The actor decided to invest $250,000 in a startup based in Singapore, in 2015. Ziddu, a cloud service provider, was founded by Venkata Srinivas Meenavalli. It is run by Meridian Tech, and also offers free file hosting for documents, pictures, video, and audio.

2. funded by Shilpa Shetty

A site which has a listing of new and upcoming residential projects from top cities. Shilpa Shetty is the co-founder of this website which has helped 200 families get properties at discounted prices.

3. Pulse funded by Chetan Bhagat

This new age photo-sharing mobile app was founded by Karthik Vaidyanath and Prakhar Khanduja. This app has a combo of articles and user-generated content. It is a bit like Snapchat, but one major difference is that you cannot take screenshots of this one. Many prominent people have participated in its funding, one name is Chetan Bhagat.

4. Healthians funded by Yuvraj Singh

One of the many startups that Singh has invested in, is Healthians. It is a home service health test platform that operated in NCR. It is now launched in Mumbai and Bangalore too.

Funds Qyuki. Wikimedia commons
Funds Qyuki. Wikimedia Commons

5. Qyuki funded by A.R. Rahman and Shekhar Kapur

They both joined hands in 2012 to launch a social media platform. Qyuki aims to engage Indian youth to new media content. It was built on Cisco’s cloud infrastructure and had received an investment from it too.

Read more: Bollywood celebs security trimmed

6. Yatra funded by Salman Khan

All of us know about Being Human. However, what we don’t know is that Salman Khan has a 5% stake in He is also the brand ambassador for the company.

7. HealthEminds funded by Robin Uthappa

It was in March 2016 that Uthappa invested an undisclosed amount in HeathEMinds. The startup aims at helping people to deal with mental stress and depression. It was started in 2013, the startup offers video counselling without disclosing the identity of the caller.

Funds Muvizz. Wikimedia Commons

8. Muvizz funded by Manoj Bajpayee

Muvizz was founded by Bajpayee’s friends Abhayanand Singh and Piyush Singh. This startup offers cult, classic and independent films to lovers of cinema around the world. It is a Video-On-Demand platform.

9. GOQii funded by Madhuri Dixit

This startup designs wearable fitness bands, it also provides fitness training. Madhuri started out as an investor with GOQii founded by Vishal Gondal. Dr. Sriram Nene, Dixit’s husband, is the CMO of the company.

10. Indi funded by Anil Kapoor

It is video social network founded by Neel Grover which was launched in 2012. Kapoor invested an undisclosed amount in the startup.

Next Story