Govt plans to develop Northeast as startup destination

Govt plans to develop Northeast as startup destination
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Story Dated : January 31, 2016

New Delhi : Northeast is an emerging destination for new ‘Startups’ from across the country and plans are there to provide ‘venture’ fund for new entrepreneurs, Union Minister Jitendra Singh has said. Inaugurating the ‘Youth Connect’ programme organised by Dr Bhimrao Ambedkar College of University of Delhi, Singh said under the ‘Startup India, Standup India’ plan announced by Prime Minister Narendra Modi, there are provisions of two years of tax-free facility and three months’ exit period.

“These are unique features of this plan and on behalf of the Ministry of DoNER, an added incentive is being contemplated in the form of a ‘venture’ fund for new entrepreneurs so as to provide them relief from financial liabilities,” he said. The Minister for Development of North Eastern Region (DoNER) said this will not only boost employability and revenue in the region but also offer an incentive and attract youth from the other parts of the country to participate in the development of Northeastern states.

Singh said that with increasing awareness about Northeast in the rest of the country, the Modi government is taking special focus on the region. The day is not far when youth from all parts of India will be heading to Northeastern states to explore new avenues of employment and vocation, he said. As the connectivity with the Northeast by air, rail and road improves and various initiatives of central government make headway, Northeastern region will emerge as an important industrial and business hub, not only for India but also for the other countries across the eastern border, he said.

The Minister said the youth of Northeast, with their talent and high literacy rate, are going to make a substantial contribution to 21st century India. Singh asked youths to make the best of this opportunity and assured that the DoNER Ministry will do everything possible to facilitate optimum utilisation of the youth potential from the region. He said the DoNER Ministry has already started a call centre and invited youth from across the country to feel free to offer their inputs and become participants in planning the future initiatives by the Ministry.