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'Start-Up Mahakumbh' from March 18 at Bharat Mandapam: Goyal

While addressing the Start-up Awards and State Ranking Awards ceremony in January, Minister Piyush Goyal announced organising Start-up Mahakumbh in March.

'Start-Up Mahakumbh' from March 18 at Bharat Mandapam: Goyal
Commerce and Industry Minister Piyush Goyal
POSTED ON February 05, 2024 10:47 AM

Commerce and Industry Minister Piyush Goyal on Saturday said a three-day "Start-up Mahakumbh" will be organised from March 18 here at Bharat Mandapam.  

Earlier in January, while addressing the Start-up Awards and State Ranking Awards, Goyal had announced to organise this event.  

"It will be the largest get-together of start-ups, unicorns, soonicorns..all under one roof showcasing the India story, story of our youth, talent, technology, and innovation," he told reporters here. 

He said that India is the third largest start-up ecosystem in the globe "Let's show it to the world". 

So far over 1.17 lakh start-ups are recognised by the ministry. 

The government has taken various measures to promote startups in the country. These eligible start-ups can avail of tax incentives such as income tax benefits under an Action Plan for Start-up India. 

The government on Thursday proposed to extend the tax incentive for start-ups and investments made by sovereign wealth or pension funds for one more year till March 2025. 

While addressing the Start-up Awards and State Ranking Awards ceremony, Goyal said that start-ups are playing an important role in India's journey towards becoming a developed nation by 2047.  

He highlighted various sectors ranging from medtech, fintech, agritech to the aviation sector, drones, and simulators in which startups are making significant contributions. He identified tourism as an area with untapped potential and encouraged startups to explore ideas around sustainable tourism.  

He had assured continued government support for the start-up ecosystem, inviting entrepreneurs to collaborate to take advantage of the huge consumer market and transition from emerging to developed start-up ecosystems. 

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