To improve ease of doing business, Commerce and Industry Minister Nirmala Sitharaman on Satureday said a start-up would now need only a certificate of recognition from the Government to avail IPR-related benefits. Earlier, a budding entrepreneur had to go through an elaborate process of approaching an inter-ministerial board to procure the Intellectual Property Rights (IPR) benefits.
“A start-up would now require only a certificate of recognition from the Department of Industrial Policy and Promotion (DIPP) and would not be required to be examined by the inter-ministerial board, as was being done earlier. This is one rapid change that we have brought in,” she said. Under the ‘Start-up India’ action plan, the Government has announced three-year tax holiday and other benefits to these entrepreneurs. She also said that the Ministry has lined up a series of meetings with different stakeholders, including investors to resolve start-up issues. She will also meet investors, industry and journalists soon.
Commenting on views of some critics about interference of Government in implementing the action plan for start-ups, particularly on extending tax holiday, Sitharaman said the Government is committed to facilitate young entrepreneurs.
“Many questions are being raised about ‘minimum government and maximum governance’. I want to ensure that the Government is only facilitating you,” she said.