DPIIT recognises 1.40 lakh entities as startups as on June 30

The Department for Promotion of Industry and Internal Trade (DPIIT) has recognised 1.40 lakh entities as startups as on June 30 this year, the parliament was informed on Friday. These startups are eligible for a host of incentives, including income tax benefits under the startup Indian action plan, which was announced in 2016.

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