All You Need to Know about PM Modi’s Historic Startup Action Plan

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As 69th Independence Day is coming soon, India’s present Prime Minister, Mr. Narendra Modi has proclaimed some startup action plan for India on 16th January. Modi’s talk was on that day fasten with humor:

“If people asks what is the difference does it make when the government is scheduled to work on Saturday that too for late evening when the official time sets off”.

At the auditorium hall of Vigyan Bhawan, PM Narendra Modi has pronounced the historic startup action plan very clearly. Among which here are the top-listed points enclosed with historic startup action plan.

Top-Listed Historic Startup Action Plan Made By Mr. Modi:

  • Self certification based on compliance regime: In order to lessen the regulatory load,start ups shall be permitted to self-certify compliance with environment and labor laws. However, when labor laws are taken into consideration, there will be no inspection carried out for 3 years where as in case of laws of the environment, the white category startups would able to be self-certify compliance.
  • Centralized hub for Startup India: Creation of centralized hub for startup India will be a single-point agenda where hand-holding and contacts will be handled remarkably.
  • Startup procedure simplification: In April, there will be an online portal and mobile app available for the citizens of India where they can easily get the startup form. By filling up this form only, your startup will be able to set up its presence in the market.
  • Protection of the Patents: Mr. N. Modi told that IP rights and protection of the patents are highly essential for startups of India. The government will play an ideal role by making the procedure IPR transparent for all Indian startups. Fast track startup mechanisms will be implemented soon to facilitate startups to better understand the value for their IPRs at the earliest possible. Applications for the patent startups shall be fast tracked for assessment and clearance.
  • Facilitators’ panel to offer lawful assistance and aid in fulfilling the demand for patent application: Facilitators shall offer necessary legal support to the startups to fill and clearance of the applications of patent, design, and trademarks under pertinent Acts. The Indian Govt. will bear all the expenses of the facilitators for numbers of their patents, designs and trademarks that a startup may categorize.
  • 80% cost reduction will be available towards patent filing fee.
  • The public-procurement norms will access the relaxation describing no need of experience and/or turnover, but no quality relaxation will be made available.
  • Around five lakhs of schools and around ten lakhs of students will be involved in the India’s core invention programs.

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