`Start-up India’, `Stand-up India’ to kick in on 16 January

The government will, on 16 January, unveil a complete action plan to provide bank financing for start-ups and offer incentives to boost entrepreneurship and job creation through the 'Start-up India and Stand-up India' initiatives.

Prime Minister Narendra Modi stated this in the 15th and the year's last edition of his `Mann ki Baat' radio programme, on Sunday.

Modi said the `Start-up' and `Stand-up' initiatives should not be confined to the cities as the country has talent all over. India, he said, can be a start-up capital of the world.

''Youth in every corner of India have talent, they only need opportunity. This 'Start up India, Stand up India' should not be limited to a few cities. It should reach every corner of India,'' he said.

All IITs, IIMs, central universities, and NITs will be connected to the 'Start-up India, Stand-up India' programme, he added.

The central budget for fiscal 2015-16 had also announced a slew of measures to encourage start-ups, including setting up an India Aspiration Fund and an Atal Innovation Mission.

The government is expected to announce tax breaks, set up more incubation centres and make the approval process easier as part of the action plan to boost the start-up ecosystem.

The Department of Industrial Policy and Promotion has been given the mandate to run the 'Start-up India, Stand-up India' programme.

The government is also keen that the start-up initiative is not confined to technology, but spreads to manufacturing as it has greater prospects of job creation.

''We are looking at systems for enabling start-ups. We must be number one in start-ups... Start-up India; Stand up India,'' he said, exhorting all bank branches to fund at least one start-up of tribals and dalits.

The initiative, Modi said, would give a new dimension to entrepreneurship and help in setting up a network of start-ups in the country.

As part of the Skill India and Digital India initiative, the prime minister said a package of incentives will be given to manufacturing units for generating jobs.

In his address, Modi also said that every citizen can connect with him by downloading the Narendra Modi App on his/her mobile phone.

India is among the five largest start-up communities in the world and these outfits have created more than 80,000 jobs so far, according to the National Association of Software and Services Companies (Nasscom).

Modi had, in his Independence Day address, announced a new campaign 'Start-up India', 'Stand up India' to boost entrepreneurship and job creation in the country.