By IndianMasterminds Bureau

It was recently announced on the floor of the parliament that the Department for Promotion of Industry and Internal Trade (DPIIT) has recognised 1.40 lakh entities as startups across India. These startups are eligible for a host of incentives, including income tax benefits under the startup Indian action plan, which was announced in 2016. Out of this, over 25,000 are recognised in Maharashtra. It is followed by Karnataka (15,019), Delhi (14,734), Uttar Pradesh (13,299) and Gujarat (11,436).

With the objective of building a strong ecosystem for nurturing innovation, and startups and encouraging investments in the startup ecosystem of the country, the Union Government launched the Startup India initiative on 16th January 2016.

Read Full Story https://indianmasterminds.com/news/over-1-4-lakh-startups-have-been-recognised-in-india-says-union-minister-of-state-for-commerce-and-industry-91681/