Startup India Project Proposal/Scheme is a drive by the Indian Government to create more employment opportunities and generate wealth, empowering the Indian economy. The Startup India project proposal aims to generate more and more services and products to provide employment, decrease the unemployment rate, and nurture the production, innovation, and startups in India. In recent years, the Government of India is empowering the development of MSME infrastructure by introducing many different schemes like single point registration scheme, marketing assistance scheme, performance and infrastructure development scheme, and many more. All schemes are controlled by the National Small Industries Corporation (NSIC), a government enterprise that works under the Ministry of Micro, Small, and Medium Enterprises.
The Government is the only biggest buyer of the number of goods and services. The Government of India in the year 1955-1956 launched a programme, the Government Stores Purchase Programme, intending to increase the share of buying from the small sector industries.
With this scheme of Single Point, Registration Scheme works the Startup India project proposal to empower the Indian economy, to boost the new emerging startups. The Startup India project proposal was introduced by Prime Minister Narendra Modi in 2016 to promote upcoming new startups in all business sectors.
The advantages of startup India project proposal is explained below-
Ease of work: The startup India project proposal simplifies the procedure for newcomers in order to motivate them. This contains steps like; the Government has built Startup India hubs where all the work regarding registrance, support, documentation, etc. is done. Secondly, an online portal has been released to ease the registration process. And last, the patent-related authority and registration are quick for the startups.
Credit support: To motivate new startup projects, the Government has finalized to assist the projects financially. A corpus of Rs. 2500 crore every year up to 4 years, which means a total of Rs 10,000 crores, which the Government will invest in different new startups. And many more other funds are also included, which will exclude the income tax for the initial three years.
UnderPublic Acquisition Policy for Micro & Small Enterprises (MSEs) Order 2012, as mentioned by the Government of India, Ministry of Micro Small & Medium Enterprises, New Delhi vide Gazette Notification dated March 23, 2012, and amendment vide order no. S.O. 5670(E) dated November 9, 2018, all units under Single point registration scheme are allowed to avail the benefits-
To promote startups, Government will exempt startups from the eligibility criteria of experience and turnovers, but not in quality and technical parameters. The startups also have to show how they are going to complete their project as per the requirements, and the startup should have their own manufacturing area in India.
To meet all the credit necessities of MSME units, NSIC has entered into a memorandum of Understanding with varied Nationalized and personal Sector Banks of India. Through syndication with these banks, NSIC facilitates MSME in accessing credit support from the banks. NSIC further assists MSMEs in completing the documentation for submitting the proposals to the banks and conjointly will follow up with the banks.
In credit facilities, MSMEs can approach credit from banks based upon their borrowing policy, and the main focus is given to the credit scheme by National Small Industries Corporation.
SPRS, the startup India project proposal launched in 2015, focuses on making India’s vital startup ecosystem take it to greater heights. The scheme works to help the startups in different parts of the initiative to help them grow, to assist them where they are lacking, and also assist them financially. The Startup India Project also facilitates partnerships between the startup landscape and, therefore, the educational atmosphere in the country. The consultants no only help in the proper implementation of these schemes but also in assists them in new strategies for the startups. The Department for Promotion of Industry and Internal Trade is trying to upmarket its project to fulfill the wants of a startup proposal that’s quickly rising as a globally competitive market.
The primary motive of the scheme is to increase the purchasing capacity of the Government from MSMEs.
The certificate of NSIC under the Single Point Registration Scheme is valid for two years. After two years, it will be renewed again after reviewing the performance of the small sector unit.
Aatmnirbhar Sena will promote MSMEs business and conduct seminars and workshops for enterprises, organizing training programs in association with corporate houses to generate employment opportunities. With full dedication, Aatmnirbhar Sena will cooperate with passionate entrepreneurs as well as young volunteers so that they can establish their respective startups and expand their businesses throughout India and even abroad. We will organize various seminars, social awareness programmes to make people aware of the government startup India project scheme so new upcoming young ideas will have a positive environment to establish their businesses. Aatmnirbhar Sena will provide assistance to all how to avail the benefits of the Single Point Registration Scheme, how to apply for the scheme, and all support possible.