Modi woos startups; offers them 3-year tax break

January 16, 2016 19:33

More highlights of Prime Minister's speech at the launch of the Startup India at Vigyan Bhawan in Delhi:

* Start-ups will be exempted from paying income tax for the first 3 years.

* No inspection for 3 years of start-up businesses in respect of labour, environment law compliance post self-certification

* This Startup India movement is not just guided by money or fame.

* The kind of innovative India we are witnessing today is one of a kind. Reasonable vaccines which reaches maximum countries today are developed by Indian scientists.

* We need to bring in a psychological change in mindset of youths from that of a job-seeker to that of a job-creator.

* When we say 'Make in India' we also say 'Make for India.' India is a great market.

* Start up does not mean a billion dollar company where thousands work. It is about employing even 5 people & developing India.

* When I say Startup India, I also mean to say stand up India. India is blessed to be a nation of youngsters.

* We are moving forward to give opportunities to new ideas in India but quality shouldn't be compromised.

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