The department of industrial policy and promotion has recently launched a web portal for startups in India.

India is known to be the 3^rd largest startup ecosystem in the world now, and this is a move clearly fostering further development. In fact, in the union budget presented by the finance minister Mr. Arun Jaitley, startups were rendered a proper definition (which they were bereft of earlier- to establish their ambit) and a complete tax exemption for three years was lent to them to consolidate the government’s assistance in building the ecosystem of growth. It will support those businesses that plan to expand base in India and facilitate easier growth and expansion of the startup that they set up. This startup will be launched by the following week. Also will commence with that, the registration of the startups that will be associated with the aforementioned.

This move comes under the ambit of the ambitious ‘Startup India’ initiative by the country. The government’s assistance could prove to be extremely beneficial and lucrative for the nascent businesses that are developing here. It would perhaps lessen the previous problems of the companies facing stringent rules from the government. By making India a relatively easier environment to function, the government has taken a gigantic step towards further encouraging the massive startup boom that the country is witnessing right now.

This is also a baby step strengthening the goals of the ‘Make In India’ initiative for local development to propagate India as a place for creation, and promote the idea of ease of doing business in India.

The web portal will be in active usage in a week or so, the DIPP representatives said. This will create a dedicated online presence facilitating and meeting with the needs of the entrepreneurs.