Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

A few months ago, Petroleum Minister Dharmendra Pradhan had asked commerce minister <keyword id="129243" type="PERSON" weightage="100" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword>, whose ministry administers the government's Start-up India, Stand up India programme, to help him find a start-up that collects used oil at an industrial scale, so that it can be recycled and put to use again. 
 This inspired the Department of Industrial Policy and Promotion (<keyword id="6391107" type="ORGANIZATION" weightage="100" keywordseo="DIPP">DIPP</keyword>) to become a matchmaker between several ministries of Indian government and start-ups that work in fields that these ministries seek. 
 
There are several arms of the government that are looking for innovative ideas so that they can find a solution to their unique problems. On the other hand, there are also many start-ups that have found way outs of these problems, but don’t even know if those are required or not, or have no contacts in the government. 
 
"The idea is to act as a facilitator between the two," a government official aware of the matter told <a href="http://economictimes.indiatimes.com/small-biz/policy-trends/dipp-to-handhold-startups-put-them-in-touch-with-government/articleshow/52948280.cms">ET</a>. "It can aid in solving critical problems of the government," added the person. 
 
Sitharaman has asked DIPP to look seriously into the booming startup ecosystem so that it can find innovative solutions for all the major problems that various government departments are looking solutions to. 
 
The first phase of the concept will be tested during the start-up national fest that is going to be held this August in Hyderabad. In the fest, a contest, called the Grand Challenge, will be held, for which DIPP will ask various ministries to share their problems, and start-ups would be selected on the basis of effective solutions. 
 
<a href="http://www.handelsblatt.com/images/nirmala-sitharaman/11750112/2-format2403.jpg">Image source</a>

DIPP to bridge the gap between start-ups and ministries looking for new innovations

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div>DENVER (AP) - ESPN sideline reporter Sergio Dipp has become an unlikely star of "Monday Night Football" thanks to an awkward debut.Play-by-play commentator Beth Mowins, who became the first woman to call an NFL regular season game since 1987, went to Dipp for a report on new Denver Broncos coach Vance Joseph during the first quarter of the Chargers-Broncos "Monday Night Football" nightcap.Dipp hesitated and finally gave some scant details about Joseph's background and emphatically stating the coach was having "the time of his life." It turned out to be Dipp's only report of the night, but it instantly made him a trending topic online.Here is the moment:The 29-year-old Mexican-born Dipp has been with ESPN since 2013, but has reported mostly for the Spanish-language ESPN Deportes.He gave an emotional statement in a Twitter video Tuesday, stating that he hopes to "have another chance."<div><div style="width:100%;height:0px;position:relative;padding-bottom:56.000%;"></div></div>

Awkward 'Monday Night Football' debut makes ESPN's sideline reporter an online star

Prime Minister Narendra Modi intervened to end the battle between the department of industrial policy and promotion (<keyword id="6391107" type="ORGANIZATION" weightage="100" keywordseo="DIPP">DIPP</keyword>) and the <keyword id="47209" type="ORGANIZATION" weightage="80" keywordseo="Finance-Ministry">Finance Ministry</keyword> to exercise control over the Foreign Investment Promotion Board (<keyword id="6360345" type="ORGANIZATION" weightage="100" keywordseo="FIPB">FIPB</keyword>). 
 
DIPP, at present, is a part of the Ministry of Commerce and Industry. "It has been decided that FIPB will remain with the Finance Ministry," a senior government official said. The Modi government wants to ensure that the policy regime encourages foreign investors to invest in the country. 
 In order to ensure effective coordination between ministries, Modi had given <keyword id="129243" type="PERSON" weightage="60" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> independent charge of commerce and industry and also made her the Minister of State for Finance and Corporate Affairs. DIPP had asked for moving FIPB back into its fold after the Modi government took charge. 
 
The Department of Economic Affairs (DEA), which is a part of the Finance Ministry, had also asked for absolute control of the FIPB, including the policy on foreign direct investment.

FIPB To Remain Under Finance Ministry

<ul><li>The government has announced in what it believes are easier processes for startups to claim exemption from <keyword id="6406536" type="UNKNOWN" weightage="20" keywordseo="Angel-Tax">Angel Tax</keyword>. </li><li>Startups incorporated before April 2016 can also apply for exemption. </li><li>However, startups need to be recognised by <keyword id="6391107" type="UNKNOWN" weightage="20" keywordseo="DIPP">DIPP</keyword> for the same.</li></ul>Indian startups have long been fighting the demon that came into their lives with the ‘angel <keyword id="45031" type="PERSON" weightage="20" keywordseo="Tax">tax</keyword>,’ which requires them to pay up for money they received from early investors. Now, the government has introduced changes to tax laws under the Section 56(2) (vii b) of the Income Tax Act that will exempt ‘genuine’ investors in recognised startups – but not without another red tape. They have to be registered with the government’s Department of Industrial Policy and Promotion (DIPP) in order to get the exemption. The angel tax, which was introduced in 2012, mandated that angel investments should be treated as “income from other sources” if the <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> issues shares at a price that exceeds the fair market value of the shares. The Indian government believes it is now providing a simpler mechanism to claim exemption from the tax. While earlier, exemption from this tax was available only for startups incorporated after 2016 under the government’s ‘Startup India program’ – a much-touted initiative of the Modi government to boost entrepreneurship. “All previous and future investments are covered, startups incorporated before April 2016 also covered,” DIPP secretary Ramesh Abhishek told <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/angel-tax-wont-haunt-startups-any-longer/articleshow/67566526.cms">Economic Times.</a> Since the launch of the Startup India program, 15,113 companies have been recognised under DIPP; India is home to a total of over 40,000 startups until June 2018 according to a <a href="https://yourstory.com/2018/06/presenting-india-startup-report-yourstory-overview-startup-ecosystem/">YourStory report</a>. With the new rule in place, DIPP-recognised startups applying for the exemption to the Central Board of Direct Taxation will be able to get an approval in 45 days. All in all, the rule becomes another added layer of bureaucratic hoops that startups now have to jump through, even though culturally speaking, a startup’s way of functioning is very different than that of a typical ‘registered company’. Experts believe that investments in a startup by an individual is a commercial decision that needs to be treated like one. “The government’s intent is to check if anyone is misusing the methodology for money laundering. If the source of the money is not tainted then why should there be an angel tax,” said Ved Jain, a tax expert and past president of The Institute of Chartered Accountants of India. The question that most experts are weighing in on is – why do we really need an angel tax? By implementation of the rule to register under DIPP, the government gets a say on how and when you startup – and that might not exactly be the ‘ease’ of doing business that the government is promoting. “Why are we moving with a presumption that whichever company is receiving the share capital with a difference in the fair market value, there is something wrong with the deal. There has to be a difference between a commercial and government decision. However if there is an allegation that it has been misused, only then additional rules should be implemented,” said Jain. See Also: <a href="https://www.businessinsider.in/the-indian-government-may-roll-back-a-tax-on-angel-investments-that-is-said-to-be-hurting-the-countrys-startup-ecosystem/articleshow/67177981.cms">The Indian government may roll back a tax on angel investments that is said to be hurting the country’s startup ecosystem</a> <a href="https://www.businessinsider.in/the-indian-government-has-reportedly-invested-just-19-of-its-fund-dedicated-to-boosting-startups/articleshow/67323307.cms">The Indian government has reportedly invested just 19% of its fund dedicated to boosting startups</a> <a href="https://www.businessinsider.in/taxed-for-being-an-angel-several-start-ups-wont-benefit-even-as-angel-tax-is-revoked-say-experts/articleshow/52831043.cms">Taxed for being an ‘angel’? Several start-ups won’t benefit even as angel tax is revoked, say experts</a>

Indian government just added a lot more red tape for startups while trying to fix the devilish ‘angel tax’

Department of Industrial Policy and Promotion (<keyword id="6391107" type="ORGANIZATION" weightage="100" keywordseo="DIPP">DIPP</keyword>) has approved 12 industrial licences to <keyword id="2731751" type="UNKNOWN" weightage="100" keywordseo="Reliance-Defence">Reliance Defence</keyword>, which is an arm of Reliance Infrastructure. The licenses allow the Anil Ambani-led group to manufacture a wide range of defence equipment. 
 
DIPP’s licence approval for Reliance Defence’s strategic business units is largely aimed at addressing defence programmes in India and overseas. 
 
"The foray of Reliance into these areas will give added traction to the Indian government's Make in India and Skill India initiatives," a senior official of the company said. 
 
Talking about the aerospace segment, Reliance Defence is looking forward to meet amphibious aircraft requirements of the Indian Navy, which are pegged at Rs 9,000 crore, and light utility helicopters, which stands at more than Rs 20,000 crore. 
 
Not only this, there is also a requirement of 160-200 medium-to-heavy helicopters, a deal that stands at Rs 50,000 crore. 
 
In addition, the transport and the combat aircraft requirements for the IAF in the next 10 years will be in excess of Rs 60,000 crore, and Reliance Defence is also eyeing this as a probable opportunity. 
 
Talking about the international projects, Reliance Strategic Electronics Division (SED) is aiming to target the global market of USD 7 billion to manufacture night vision devices (NVDs) and surveillance ones, especially for the markets in Middle East, Africa and South America.

Reliance Defence gets 12 industrial licences approved from DIPP

In a bid to support entrepreneurial dreams, the <keyword id="105668" type="ORGANIZATION" weightage="20" keywordseo="Commerce-and-Industry-Ministry">Commerce and Industry Ministry</keyword> has urged all the states and the Union Territories to establish a '<keyword id="1007874" type="UNKNOWN" weightage="20" keywordseo="Startup-Hub">Startup Hub</keyword>' and <keyword id="907406" type="UNKNOWN" weightage="20" keywordseo="incubators">incubators</keyword>. 
 The Department of Industrial Policy and Promotion (<keyword id="6391107" type="ORGANIZATION" weightage="20" keywordseo="DIPP">DIPP</keyword>) has already set up the startup hub in April, which guides and handhelds startups, and has resolved over 12,000 queries of startups over telephone, email and twitter. 
 
"DIPP has requested state governments and administration of UTs to set up Startup Hub as well as incubators to help startups during various stages of development," DIPP release stated. 
 
It also said that the department will write to top companies requesting them to support the initiative by setting up new incubators or scale up existing incubators in collaboration with educational institutes. 
 
Further, it said that seven proposals for Research Parks, 16 proposals for TBIs (technology business incubators) and 13 proposals for startup centres have been recommended by the National Expert Advisory Committee formed by the HRD Ministry. 
 
"These proposals shall be implemented in the current financial year," it added. 
 All these steps are part of the Startup Action Plan announced by Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> in January. 
 
The government unveiled a slew of incentives to boost startup businesses, offering them a tax holiday and inspector raj-free regime for three years, capital gains tax exemption and Rs 10,000 crore corpus to fund them. 
 
India has the third-largest number of startups globally. 
 
Commerce and Industry Minister Nirmala Sitharaman has asked the finance ministry to consider raising tax holiday for startups to seven years to encourage budding entrepreneurs.

Budding entrepreneurs will have incubators, startup hubs in their own states soon

The Indian government is ready to woo <a href="http://www.businessinsider.in/searchresult.cms?query=world+bank&amp;sortorder=effectivedate">World Bank</a> officials in a bid to improve its rankings on <a href="http://www.businessinsider.in/searchresult.cms?query=ease+of+doing+business&amp;sortorder=effectivedate">ease of doing business index</a>, a report that will be released in October. 
 <keyword id="6354424" type="ORGANIZATION" weightage="20" keywordseo="World-Bank">World Bank</keyword> officials will meet people from <a href="http://www.businessinsider.in/searchresult.cms?query=DIPP&amp;sortorder=effectivedate">Department of Industrial Policy &amp; Promotion</a> (<keyword id="6391107" type="ORGANIZATION" weightage="20" keywordseo="DIPP">DIPP</keyword>), which will present a data on significant improvements made across 14 parameters on which the ranking is decided. 
 
India, which is presently at 130th rank out of 184 nations, will present data on various sectors such as enforcing contracts, resolving insolvency and starting a business, in which India ranked poorly last year. 
 
World Bank researchers will spend two weeks in Delhi and Mumbai and speak with actual users and stakeholders to get the on-ground reality. 
 
"<a href="http://www.businessinsider.in/searchresult.cms?query=prime+minister+narendra+modi&amp;sortorder=effectivedate">Prime Minister Narendra Modi</a> has given us a mandate that we have to be in the top 50 in the next three years. Dismantling the complex procedures has been a mammoth task. If it was easy it would have been done long time back," DIPP secretary Ramesh Abhishek told ET. 
 
DIPP is targeting areas like <a href="http://www.businessinsider.in/searchresult.cms?query=starting+a+business&amp;sortorder=effectivedate">starting businesses</a>, insolvency procedures, construction permits, ease of trading across borders and electricity connections specifically as there have been said complexities for decades. 
 Meanwhile, India's own ranking of states has improved <keyword id="6354423" type="UNKNOWN" weightage="20" keywordseo="Ease-of-Doing-Business">ease of doing business</keyword> across India. "States know they need investments to create jobs, infrastructure, for which they need to provide a business-friendly environment," Abhishek told ET, adding “the Centre is just trying to facilitate these reforms." 
 
Jaijit Bhattacharya, partner, government services and infrastructure, KPMG India, told ET, “The change is happening in all the states. Given the state we are in, we have an enormous amount of work still to do."

India will try to impress World Bank to move up in ease of doing business ranking. Here’s how

<ul><li>The Department of Industrial Policy and Promotion held a roundtable meeting with industry leaders on February 4. </li><li>A working committee has been assigned to resolve the issues related to <keyword id="6406536" type="UNKNOWN" weightage="20" keywordseo="Angel-Tax">angel tax</keyword>. </li><li>According to a survey, 73% of <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> have been served with angel tax notices. </li></ul>The Indian government is reportedly all set to take a decision on the angel tax issue that startups and investors alike have voiced against – within the next week. The step is expected to bring clarity to the country’s early stage entrepreneurs who say the rule has hurt their funding prospects. On Monday, the Department of Industrial Policy and Promotion (which recently got upgraded to be the Department for Promotion of Industry and Internal Trade) held a roundtable meeting with industry leaders from the Indian startup ecosystem to work on providing solutions for the angel tax issue, together. The meeting which was held with Indian Private Equity and Venture Capital Association (IVCA), angel investors and other leaders, saw the government take support from industry bodies to understand and implement changes that will be accepted by all. “We will form a smaller working group to come out with certain suggestions on resolving those issues in the next four-five days,” said Ramesh Abhishek, DIPP Secretary to the <a href="https://www.thehindubusinessline.com/economy/policy/working-group-to-examine-angel-tax-pain/article26176774.ece">media.</a> The angel tax issue had stirred up again after several startups were sent notices for the same. According to survey done by the IVCA, 73% of startups in India received <a href="https://yourstory.com/2019/02/indian-startups-angel-tax-notice/">Angel tax notices</a>. However, the DIPP secretary has said that no coercive action will be taken against these startups. In the last month, the government had introduced changes to tax laws under the Section 56(2) (vii b) of the Income Tax Act that will exempt ‘genuine’ investors in startups which are recognised by the DIPP. Till date, 15,278 startups have been recognised by the DIPP, while 129 startups have been funded under the Startup India program. Since the tax was introduced in 2012, Indian startups have claimed it has slowed down the funding at earlier stages because of the high tax rate. There have been several calls from the startup industry to remove the tax completely. The angel tax was added by the Indian government to prevent money laundering, however, over the years, entrepreneurs believe it has only become a hurdle in the funding stages. Siraj Dhanani, Co-Founder and CEO, InnAccel Technologies – which is into medtech manufacturing, told Business Insider previously, “Raising capital for startups working on affordable healthcare is already difficult, it is made more so by this angel tax, which is effectively a tax on Indian innovation." See Also: <a href="https://www.businessinsider.in/indian-government-just-added-a-lot-more-red-tape-for-startups-while-trying-to-fix-the-devilish-angel-tax/articleshow/67572452.cms">Indian government just added a lot more red tape for startups while trying to fix the devilish ‘angel tax’</a> <a href="https://www.businessinsider.in/indias-startups-wanted-a-breather-from-angel-tax-but-government-royally-ignored-them/articleshow/67794172.cms">Budget 2019 royally ignored India’s startups</a> <a href="https://www.businessinsider.in/the-indian-government-has-reportedly-invested-just-19-of-its-fund-dedicated-to-boosting-startups/articleshow/67323307.cms">The Indian government has reportedly invested just 19% of its fund dedicated to boosting startups</a>

Indian government to take a stand on angel tax within a week

Department of Industrial Policy and Promotion (<keyword id="6391107" type="ORGANIZATION" weightage="15" keywordseo="DIPP">DIPP</keyword>) is all set to issue a notification which would enable private incubators certify start-ups as part of its Startup India plan. Certified start-ups stand eligible for tax benefits and other facilities from the government. 
 
"We are in the process of finalising the eligibility norms for an incubator. This will widen our base of incubators in the country," an official told ET requesting anonymity. 
 
As of now, the only incubator certifying start-ups is the one funded by the government. Other than this, the one established in a post-graduate college is also permitted to certify start-ups. 
 
The DIPP has already put in place strict norms for a start-up to become certified. However, looking at the scarcity of incubators, the government has now decided to allow private incubators to be able to certify start-ups. 
 
To become eligible, incubators would need to have specified physical infrastructure as well as mentors enrolled with the organisation, as per sources. 
 
<a href="http://cdn.thetechbulletin.com/wp-content/uploads/2015/11/startup-incubators.jpg">Image source</a>

Start-up certification to be privatized to increase the pace of start-up incubation

(Photo Source: thebluediamondgallery.com) <ul><li>India’s Department of Industrial Policy and Promotion (DIPP) is seeking amendments in Patent Rules, 2003. According to the draft rules, patent application put in by a woman developer/innovators will be prioritised over other applications to elevate women entrepreneurship across the country. </li><li>In fact, even if one of the members from the group aiming to file a patent is a female, the application will be accelerated for examination by <keyword id="149104" type="ORGANIZATION" weightage="20" keywordseo="Indian-patent-office">Indian Patent Office</keyword>. </li><li>At present, the process takes 5-7 years including filing an application, the publication involved, examining the patent and finally granting it to the group. But, the DIPP is planning to trim it to 18 months by March, 2020. </li></ul>While companies in India <a href="https://www.businessinsider.in/gender-diversity-may-be-a-mere-buzzword-for-corporate-india-a-recent-survey-shows-some-worrying-numbers/articleshow/67041718.cms">struggle </a>to strike the right gender balance, the Indian government plans to aggressively push for women entrepreneurship, making the patent process much faster. A recent draft rolled out by the Department of Industrial Policy and Promotion (DIPP) <a href="https://www.bloombergquint.com/business/patent-applications-by-female-innovators-to-get-faster-clearance#gs.yAtIm_s">is seeking amendments</a> in Patent Rules, 2003. It said that a patent application put in by a woman developer/innovator will be prioritised over other applications to elevate women entrepreneurship across the country. It is not only considering <keyword id="6418358" type="UNKNOWN" weightage="20" keywordseo="Patents">patents</keyword> filed by women innovators, however. In fact, according to the rules noted in the draft, even if one of the members from the group filing the patent is a female, the application will be accelerated for examination by Indian Patent Office. Notably, there was no such provision in the country’s patent rules so far. This may be because not a lot of women entrepreneurs have sought patents. While, <a href="https://www.thestar.com.my/tech/tech-news/2018/04/30/a-third-of-global-patents-by-women/">according to World Intellectual Property Organisation (Wipo) data</a>, women account for nearly one-third of patents, globally, with the highest number of patents coming from the biotechnology, pharmaceuticals and chemistry sectors, it noted. Overall, Indians account for only 17%-18% of total registrations. The country marks seventh for the patent filing office in the world. The DIPP plans to cut down on the time incurred while examining and granting patents. To accelerate the patent granting process, the department is also looking to increase its headcount with more hirings and evolving with the growing technology. At present, the process takes 5-7 years including filing an application, the publication involved, examining the patent and finally granting it to the group. But, the DIPP is bidding to trim it to 18 months by March, 2020. According to stats recorded for this financial year, the country granted 13,045 <a href="https://www.businessinsider.in/india-doubled-the-number-of-patents-it-granted-last-year-but-less-than-20-went-to-residents-and-entities-based-in-the-country/articleshow/66948">patents</a>, which is nearly 3,100 more than the last year (2016-17). See also: <a href="https://www.businessinsider.in/gender-diversity-may-be-a-mere-buzzword-for-corporate-india-a-recent-survey-shows-some-worrying-numbers/articleshow/67041718.cms">'Gender diversity' may be a mere buzzword for corporate India — A recent survey shows some worrying numbers</a> <a href="https://www.businessinsider.in/in-india-women-rule-the-skies-with-the-highest-share-of-female-pilots-in-the-world/articleshow/66590435.cms">In India, women rule the skies with the highest share of female pilots in the world</a> <a href="https://www.businessinsider.in/indians-are-expressly-downbeat-about-their-work-and-find-it-socially-useless-says-study/articleshow/66986382.cms">Indians are expressly downbeat about their work and find it ‘socially useless’, says study</a>

You Searched For "DIPP" and got 10 results

DIPP to bridge the gap between start-ups and ministries looking for new innovations

BI India Bureau

Awkward 'Monday Night Football' debut makes ESPN's sideline reporter an online star

Associated Press,Cork Gaines

FIPB To Remain Under Finance Ministry

BI India Bureau

Indian government just added a lot more red tape for startups while trying to fix the devilish ‘angel tax’

Sanchita Dash

Reliance Defence gets 12 industrial licences approved from DIPP

BI India Bureau

Budding entrepreneurs will have incubators, startup hubs in their own states soon

BI India Bureau

India will try to impress World Bank to move up in ease of doing business ranking. Here’s how

BI India Bureau

Indian government to take a stand on angel tax within a week

Sanchita Dash

Start-up certification to be privatized to increase the pace of start-up incubation

BI India Bureau

India wants to dramatically speed up the processing time of patent applications filed by women

BI India Bureau

Popular Keywords

Buying Guides