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Tue 26 Jan 2016 12:16 PM

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Modi launches Start Up India initiative

Indian Prime Minister Narendra Modi gestures launched an initiative to bolster start-ups in New Delhi. Indian entrepreneurs will receive generous tax breaks and face dramatically reduced red tape when starting and closing a business. Speaking at a gathering of 2,000 entrepreneurs from India, Silicon Valley and elsewhere, Modi outlined a slew of measures under Start Up India including exempting startups from income tax for their first three years.

Modi launches Start Up India initiative
Indian Prime Minister Narendra Modi gestures as he speaks during an event to launch an initiative to bolster start-ups in New Delhi on January 16, 2016. Indian entrepreneurs will receive generous tax breaks and face dramatically reduced red tape when starting and closing a business, Prime Minister Narendra Modi said January 16, as he launched a pet initiative to bolster India's fast-growing startup scene. Speaking at a gathering of 2,000 entrepreneurs from India, Silicon Valley and elsewhere, Modi outlined a slew of measures under Start Up India including exempting startups from income tax for their first three years. (AFP/Getty Images)
Modi launches Start Up India initiative
Indian Minister of Finance, Arun Jaitley (C), Country Director of World Bank, Onno Rhul (L) and Indian Minister of State (Independent Charge) for Ministry of Commerce and Industry Nirmala Sitharaman attend the inaugural session of Start Up India in New Delhi on January 16, 2016. The Start Up India mission envisages technology business incubators and research facilities aimed at start-up entreperneurs. (AFP/Getty Images)
Modi launches Start Up India initiative
Chief Executive Officer of SoftBank, Masayoshi Son looks on during the inaugural session of Start Up India in New Delhi on January 16, 2016. The Start Up India mission envisages technology business incubators and research facilities aimed at start-up entreperneurs. (AFP/Getty Images)
Modi launches Start Up India initiative
Indian Prime Minister Narendra Modi (L) and Finance Minister Arun Jaitley talk during an event to launch an initiative to bolster start-ups in New Delhi on January 16, 2016. Indian entrepreneurs will receive generous tax breaks and face dramatically reduced red tape when starting and closing a business, Prime Minister Narendra Modi said January 16, as he launched a pet initiative to bolster India's fast-growing startup scene. Speaking at a gathering of 2,000 entrepreneurs from India, Silicon Valley and elsewhere, Modi outlined a slew of measures under Start Up India including exempting startups from income tax for their first three years. (AFP/Getty Images)
Modi launches Start Up India initiative
President and Chief Operating Officer of SoftBank Corp, Nikesh Arora (R) talks with founder of online travel company, MakeMyTrip, Deep Kalra as Chief executive officer of SoftBank, Masayoshi Son (C) looks on during the inaugural session of Start Up India in New Delhi on January 16, 2016. The Start Up India mission envisages technology business incubators and research facilities aimed at start-up entreperneurs. (AFP/Getty Images)
Modi launches Start Up India initiative
Founder of online travel company, MakeMyTrip, Deep Kalra (L) chats with Chief Executive Officer of SoftBank, Masayoshi Son during the inaugural session of Start Up India in New Delhi on January 16, 2016. The Start Up India mission envisages technology business incubators and research facilities aimed at start-up entreperneurs. (AFP/Getty Images)
Modi launches Start Up India initiative
Indian Minister of State (Independent Charge) for Ministry of Commerce and Industry, Nirmala Sitharaman speaks during the inaugural session of Start Up India in New Delhi on January 16, 2016. The Start Up India mission envisages technology business incubators and research facilities aimed at start-up entreperneurs. (AFP/Getty Images)
Modi launches Start Up India initiative
Indian Finance Minister Arun Jaitley speaks during the inaugural session of Start Up India in New Delhi on January 16, 2016. The Start Up India mission envisages technology business incubators and research facilities aimed at start-up entreperneurs. (AFP/Getty Images)
Modi launches Start Up India initiative
Indian Minister of Finance, Arun Jaitley (R) talks with Country Director of World Bank, Onno Rhul during the inaugural session of Start Up India in New Delhi on January 16, 2016. The Start Up India mission envisages technology business incubators and research facilities aimed at start-up entreperneurs. (AFP/Getty Images)