a source of pride<\/a> for the country, whose broader economy is projected to grow between 6.3% and 6.8% in the coming year. The government is betting on innovation and entrepreneurship to help achieve its longer-term goal of 8% growth needed to create adequate jobs for its young population.<\/p>\nIndia startups have attracted over $100 billion in the past decade from investors including Norges, SoftBank, Sequoia, Accel, Tiger Global, General Catalyst, and General Atlantic. Home to over 100 unicorn startups, India has also cemented its place as perhaps the last great growth market for Silicon Valley giants.<\/p>\n
\u201cThe first fund done a few years ago gave a huge fillip to the Indian venture capital industry,\u201d said Sanjeev Bikhchandani, a high-profile investor who is among the earliest backers of Zomato and Policybazaar. \u201cDozens of Indian VC funds got set up providing risk capital to hundreds of startups. India needs domestic venture capital.\u201d<\/p>\n
The government also announced a $2.3 billion Nuclear Energy Mission aimed at developing at least five indigenous small modular reactors by 2033. The program is part of India\u2019s goal to achieve 100 gigawatts of nuclear energy capacity by 2047, with planned amendments to the Atomic Energy Act to enable private sector participation. <\/p>\n
\u201cWe are determined to ensure that our regulations keep up with technological innovations and global policy developments,\u201d Sitharaman said in her budget speech, announcing plans to decriminalize more than 100 provisions across various laws through a new Jan Vishwas Bill 2.0.<\/p>\n
The government also extended tax benefits for startups by five years, allowing companies incorporated before April 2030 to claim certain deductions. For startups in 27 sectors deemed crucial for India\u2019s self-reliance goals, the government reduced guarantee fees to 1% while doubling their credit guarantee limit to $230,000.<\/p>\n
A new scheme targeting 500,000 first-time entrepreneurs, particularly women and those from scheduled castes and tribes, will provide term loans up to $24,000 over the next five years. The program builds on lessons from the existing Stand-Up India scheme, the minister said, aiming to broaden the startup ecosystem\u2019s reach.<\/p>\n
To boost innovation in electronics manufacturing, a key focus area for tech startups, the government introduced a presumptive taxation scheme for non-residents involved in establishing manufacturing facilities. The budget also proposes \u201cBharatTradeNet,\u201d a unified platform for trade documentation and financing solutions that could benefit fintech startups.<\/p>\n<\/div>\n
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Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"India announced a new $1.15 billion Fund of Funds for startups on Saturday while unveiling sweeping regulatory reforms and an ambitious nuclear energy program, as New Delhi seeks to boost tech innovation and clean energy in the world\u2019s fifth-largest economy. Finance Minister Nirmala Sitharaman, presenting the federal budget for 2025-26, said the fund builds on […]<\/p>\n","protected":false},"author":1,"featured_media":147423,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":{"0":"post-147422","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-tech"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/147422","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=147422"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/147422\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/147423"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=147422"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=147422"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=147422"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}