- Quality Control Orders (QCOs): For ensuring availability of quality products to consumers, QCOs are issued by various Ministries/Departments of Government of India in exercise of the powers conferred by section 16 of the Bureau of Indian Standards Act, 2016 stipulating conformity of the products to Indian Standards.
- Standard mark (ISI mark): BIS grants licence to manufacturers to use the Standard mark (ISI mark) on the product conforming to the relevant Indian Standards.
- Production-Linked Incentive (PLI) Scheme: To provide a major boost to manufacturing, the government has launched Production-Linked Incentive (PLI) Scheme for 13 sectors with an outlay of Rs 1.97 lakh crore over the next five years.
- Public Procurement Order: In order to provide purchase preference to domestic manufacturers, Public procurement (Preference to Make in India) Order on Industrial Steam generators/ Boilers dated 29 September 2020 has been issued.
- Identification of focus sub- sectors: 24 focus sub- sectors have been identified under Make in India 2.0 to enhance competitiveness and exports of the manufacturing sector.
- Empowered Group of Secretaries (EGoS) and Project Development Cells (PDCs): Government has set up EGoS and PDCs in Ministries/Departments to fast-track investments by coordination between the Central Government and State Governments
- UdyogManthan: First of its kind brainstorming exercise to enhance productivity & quality in Indian industry to realize vision of an Atma Nirbhar Bharat for all major sectors of manufacturing and services
- Strengthening of Intellectual Property Rights (IPR) Regime: Infrastructure upgradation, digitisation of workflow in IP offices, manpower augmentation; Bolstering IP protection for MSMEs and Start-ups through dedicated schemes
- New definition of MSME:
- The definition of micro manufacturing and services unit increased to Rs. 1 crore of investment and Rs. 5 crore of turnover.
- The limit of the small unit increased to Rs. 10 crore of investment and Rs 50 crore of turnover.
- Similarly, the limit of a medium unit increased to Rs 20 crore of investment and Rs. 100 crore of turnover.
- The limit for medium manufacturing and service units was further increased to Rs. 50 crore of investment and Rs. 250 crore of turnover.
- It has also been decided that the turnover with respect to exports will not be counted in the limits of turnover for any category of MSME units whether micro, small or medium.
Steps taken by the Government to uplift the Start-ups and promote the campaign ‘Vocal for Local’
- Compliance Regime based on Self-certification
- Startup India Hub
- Startup India Portal and Mobile App
- Legal Support and Fast-tracking Patent Examination at Lower Costs
- Relaxed Norms of Public Procurement for Startups
- Faster Exit for Startups
- Funding Support through a Fund of Funds
- Credit Guarantee Fund for Startups
- Tax Exemption on Capital Gains
- Tax Exemption to Startups for 3 years
- Tax Exemption on Investments above Fair Market Value
- Organizing Startup Fests for Showcasing Innovation and Providing a Collaboration Platform
- Launch of Atal Innovation Mission (AIM) with Self-Employment and Talent Utilization (SETU) Program
- Participation of States in Strengthening Startup Ecosystems
- Grand Challenges
- Encouraging Women Entrepreneurship
- National Startup Awards
- Prarambh
- Seed Fund
- Investment Support for startups (Priority Sector lending)
Prarambh= Startup India International Summit’
The Summit was organized by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry, on 15-16 January, 2021. The Summit marks the fifth anniversary of the Startup India initiative, launched by the Prime Minister on 16 January, 2016.
Faster Exit for Startups:
The Ministry of Corporate Affairs has notified Startups as ‘fast track firms’ enabling them to wind up operations within 90 days vis-a-vis 180 days for other companies
Source: PIB
