Category Archives: StartUps

Ministry of Commerce | Tax Exemptions to Startups

Startup India

PIB News Update: Minister of Commerce and Industry, Piyush Goyal, has informed that Under Startup India Initiative recognized startups have been exempted under several sections of IT Act.  Details are enclosed at Annexure-I.

The Fund of Funds for Startups (FFS) was approved by the Cabinet and established by Department for Promotion of Industry and Internal… Read More

Ministry of Commerce clarification on E-Commerce Business Model

Draft National Policy on e-COMMERCE

PIB News Update: Minister of Commerce and Industry, Piyush Goyal has informed that E-commerce companies are subject to various extant rules and regulations. Owing to the cross cutting nature ofe-commerce, different laws and regulations across sectors govern the present e-commerce activities, some of which are Income Tax Act, 1961, Consumer Protection… Read More

Ministry of Commerce | Fraud by E – Commerce Cos

Fraud by E - Commerce Companies

PIB News Update:  Minister of Commerce and Industry, Piyush Goyal  has informed that The Consumer Protection Act, 1986 has been enacted to better protect the interests of the consumers. It covers all goods and services and all mode of transactions including e-commerce. Under the provision of the said Act, a three tier quasi-judicial mechanism, called Consumer… Read More

MSME | CSR Funds of CPSEs

NSIC

PIB News Update: The National Small Industries Corporation Limited (NSIC) is the only Public Sector Undertaking under the administrative control of the Ministry of Micro, Small and Medium Enterprises. The details of Corporate Social Responsibility (CSR) projects/activities of NSIC and the areas where CSR were spent during the last two years are given… Read More

Ministry of Commerce | Goa to host 2nd Edition of Startup India Global Venture Capital Summit 2019

Goa to host 2nd Edition of Startup India Global Venture CapitGoa to host 2nd Edition of Startup India Global Venture Capital Summit 2019al Summit 2019

PIB News Update: The Department for Promotion of Industry and Internal Trade (DPIIT), in partnership with Government of Goa, is organizing the 2nd edition of the Startup India Global Venture Capital Summit, on 6th and 7th of December, 2019 for Fund Managers and Limited Partners of Top Global Venture Capital Firms. The theme for Startup India Global Venture… Read More

Ministry of Commerce & Industry clarification of regulation of E-Commerce Companies

Draft National Policy on e-COMMERCE

PIB News Update:  There is no distinction between the taxation regimes of Indian and foreign e-commerce companies as such, however the taxation regimes applicable to domestic companies and foreign companies differ.

The income of domestic companies is taxed at the rate of 30% plus surcharge and cess however the Finance (No.2) Act, 2019 introduced a tax rate… Read More

Ministry of Commerce | DPIIT invites applications for 1st National Startup Awards 2020

First Ever National Startup Awards 2020

PIB News Update: The Department for Promotion of Industry and Internal Trade (DPIIT) has announced institution of the first ever National Startup Awards. The National Startup Awards seek to recognize and reward outstanding startups and ecosystem enablers that are building innovative products or solutions and scalable enterprises, with high potential… Read More

MSME | 30 Outlets set up for popularizing Coir Products

Coir Products

PIB News Update: Shri Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises has informed that The Coir Industry in India is an export oriented industry.  However, the reach of the coir products in India is increasing beyond Metros and major cities. Considering the vast geographical area available in India and the huge population, it is expected… Read More

MSME | Helping growth of Medium and Small Entrepreneurs

Ministry of Micro, Small & Medium Enterprises

PIB News Update:Shri Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises has informed that The Ministry of Micro Small and Medium Enterprises (MSME) implements various schemes and programmes for the growth and development of MSME Sector in the country. These schemes and programmes include Prime Minister’s Employment Generation programme… Read More

Development of 35 Clusters under MSMEs

MSME Summit 2019

PIB News Update: The Micro and Small Enterprises Cluster Development Programme (MSE-CDP) is implemented by Ministry of Micro, Small and Medium Enterprises and 35 clusters have been completed during financial year 2015-16 to 2018-19. State/UT-wise details are enclosed (Annexure-I).

The turnover, production, job creation and exports of the clusters… Read More

MSME contribution in Domestic Defence Production Sector

Defence Production

PIB News Update: Shri Nitin Gadkari, Union Minister for Micro, Small and Medium Enterprises has informed that As reported by the Ministry of Defence, the number of Micro, Small and Medium enterprises (MSMEs) Vendors in India under domestic defence production sector is 8,643.

Several schemes/initiatives have been put in place to support MSMEs including… Read More