PM Modi launches $1.5 bln fund in push to support start-ups | Reuters

New Delhi Prime Minister Narendra Modi launched a string of initiatives on Saturday to support the country's start-ups, including a 100 billion rupee ($1.48 billion) fund and a string of tax and compliance breaks.

Modi said start-ups would not face compliance inspections for three years, and would also benefit from cheaper and faster patent applications, as well as a three year income tax exemption.

The announcement, at a government-organized on start-ups in New Delhi, comes months after Modi made a whirlwind tour of Silicon Valley, meeting the chief executives of Facebook Inc, Google Inc and Apple Inc.

($1 = 67.7646 Indian rupees)

(Reporting by Himank Sharma, editing by Suvashree Dey Choudhury)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date: Jan 16, 2016 20:45 PM

Also Watch

It's A Wrap: Omerta star Rajkummar Rao in conversation with Parul Sharma
  • Thursday, April 26, 2018 In the Kanjarbhat community, a campaign against 'virginity tests' is slowly gaining ground
  • Thursday, April 19, 2018 Watch: National-level skater and coach Dhwanit Rele trains and nurtures budding athletes
  • Monday, May 14, 2018 FOMO Episode 1: Google Assistant, This is America, Sonam's wedding & Global Warming
  • Saturday, May 19, 2018 Social Media Star: Rajkummar Rao and Bhuvan Bam open up about selfie culture, online trolls

Also See