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Mahesh

17/05/23 06:15 AM IST

India & Bangladesh launch '50 Start-ups Exchange Programme'

In News
  • India and Bangladesh have initiated a start-up exchange programme to foster collaboration and partnership between the entrepreneurial communities of both countries.
About the programme
  • The framework of the start-up exchange programme was decided by the Prime Ministers of India and Bangladesh during their bilateral summits.
  • The primary objectives of the programme include exploring partnerships, expanding business relations, sharing experience and knowledge, and promoting youth and entrepreneurial cooperation.
  • The exchange programme aims to enhance cooperation in various areas, including new and emerging sectors, cutting-edge technology, entrepreneurship, and innovation.
  • It provides a platform for start-ups to share experiences, build partnerships, and learn from each other’s successes and challenges.
  • This collaboration has the potential to foster economic growth, create job opportunities, and drive innovation in both India and Bangladesh.
Start-up India Porgramme
  • The Startup India scheme was first announced by Prime Minister Narendra Modi in 2015.
  • A company is defined to be a startup if it is headquartered in India, which was opened less than 10 years ago, and has an annual turnover of fewer than ₹100 crores.
  • The start up India scheme is implemented by Department for Promotion of Industry and Internal Trade, Ministry of Commerce and Industry
  • The government has already launched the I-MADE programme to assist Indian entrepreneurs in creating 10 lakh (1 million) mobile app start-ups, as well as the MUDRA Bank's scheme (Pradhan Mantri Mudra Yojana).
  • This program is to provide micro-finance, low-interest rate loans to entrepreneurs from low socioeconomic backgrounds.
  • This scheme has been allocated an initial capital of 20,000 crores (US$3.1 billion in 2020).
  • India will celebrate January 16 as National Start-up Day.
Source- AIR News

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