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The Department for Promotion of Industry and Internal Trade (DPIIT) is a central government department under the Ministry of Commerce and Industry in India. It is responsible for formulation and implementation of promotional and developmental measures for growth of the industrial sector, keeping in view the national priorities and socio-economic objectives.
Stand-Up India was launched by the Government of India on 5 April 2016 to support entrepreneurship among women and SC & ST communities. Stand Up India Loan Scheme is a government initiative launched by the Government of India in 2016 to promote entrepreneurship and facilitate bank loans to Scheduled Caste (SC) / Scheduled Tribe (ST) and women entrepreneurs in the country.
Government is planning to leverage the incubators under Startup India Seed Fund Scheme (SISFS) to build applications for ONDC with vernacular language support for greater accessibility. [47] ONDC restricted referral commission of sending a buyer to a shopper at 3% compare to 30% in major eCommerce platforms. [3]
Recently instituted National Startup Award by ministry of commerce and industry recognised 46 startups [5] on the eve of First National Startup Day announced by Hon'ble Prime Minister Narendra Modi. udChalo, Ratan Tata backed Repos and others remarkable startups [6] are among the winners.
In 2017 the government of Vietnam opened discussions with the government of India on emulating its use of cybersecurity and egovernance. [55] At the launch ceremony of Digital India Week by Prime Minister Modi in Delhi on 1 July 2015, CEOs from India and abroad committed to invest ₹ 224.5 lakh crore (US$2.6 trillion) towards the initiative. [56]
The number of newly founded startups has increased from 733 in 2016–17 to over 14000 in 2021–22, making India the third largest startup ecosystem in the world after the US and China. [3] Among them, around 6600 startups have been in the FinTech industry, evaluating a market value of US$31 billion in 2021. [4]
India SME Asset Reconstruction Company Ltd. (ISARC) [19] for speedier resolution of Non-Performing Assets (NPA) in the MSME sector. SIDBI supports the Government of India in its initiatives and work as a nodal agency for some of the schemes related to development of MSMEs, such as Make in India and Startup India.
T–Hub (Technology Hub) is an innovation intermediary and business incubator based in Raidurg, Hyderabad, Telangana, India. [1] Based on the triple helix model of innovation, it is a partnership between the Government of Telangana, three academic institutes in Hyderabad (the International Institute of Information Technology, the Indian School of Business and the National Academy of Legal ...