Uber India head meets commerce minister, discusses startup ecosystem

New Delhi - Commerce and Industry Minister Nirmala Sitharaman today met Uber India President Amit Jain and discussed ways through which the cab aggregator can help in strengthening the ecosystem for startups. In the meeting, the cab aggregator expressed its intention to contribute in the development of startup ecosystem. [caption id=“attachment_2997258” align=“alignleft” width=“380”]  AFP[/caption] The ministry suggested the company to do something meaningfull in terms of providing mentorship and connecting venture capital funds to budding entrepreneurs in small cities, an official said. The ministry is taking several steps to promote these entrepreneurs. Under the ‘Start Up India Action Plan’, the government has announced incentives including tax holiday and Inspector Raj-free regime besides capital gains tax exemption and Rs 10,000 crore corpus to fund them. Sitharaman had also demanded from the Finance Ministry to consider raising tax holiday for startups to 7 years from the current 3 years to encourage budding entrepreneurs.