India resets startup definition to include deep tech companies, cooperative societies
India has overhauled its startup recognition framework, widening access to policy benefits by raising turnover thresholds, extending eligibility timelines for deep-technology firms and bringing cooperative societies into the ambit of the Startup India programme.
Under new norms notified by the Department for Promotion of Industry and Internal Trade, a startup will now be defined as an entity up to 10 years from incorporation with turnover not exceeding Rs 200 crore in any financial year. For firms recognised as deep tech startups, the eligibility window has been extended to 20 years, with the turnover cap raised to Rs 300 crore.
