India Reiterates Commitment To Momentum-Building Of BIMSTEC Framework India Reiterates Commitment To Momentum-Building Of BIMSTEC Framework BIMSTEC over the years has emerged as a promising sub-regional grouping with growing strategic and economic interests of the Member States, as well as of the international community in the Bay of Bengal region, S Jaishankar said.
BIMSTEC enjoys the unique strength of connecting South and South-East Asia: S Jaishankar (File)
New Delhi:
External Affairs Minister S Jaishankar on Friday said that India remains committed to further building the momentum of regional cooperation under the framework of BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) and make it a stronger, vibrant and result-oriented grouping.
India reiterates commitment to momentum-building of BIMSTEC
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India reiterates commitment to momentum-building of BIMSTEC framework
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Government earmarks Rs 126 crore for Startup India Seed Fund
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Last Updated: Feb 02, 2021, 08:24 PM IST
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The Startup India Seed Fund, which was announced by Prime Minister Narendra Modi last month, will become operational on April 1, 2021.
ETtech
Illustration: Rahul Awasthi
Bengaluru: The government has allocated Rs 126 crore towards the Startup India Seed Fund for the financial year 2021-22.
The fund aims to provide financial assistance to early stage startups in sectors such as water management, biotechnology and defence, which do not usually attract institutional venture capital funding.
The fund, announced by Prime Minister Narendra Modi last month, will become operational on April 1 and is looking to disburse Rs 945 crore over a period of five years. It will back eligible startups and incubators that will be evaluated by an Experts Advisory Committee (EAC) constituted by the Department for Promotion of Industry and Internal Trade (DPIIT).
Startup India Seed Fund to be operational from April 1
The Rs 945 crore Startup Indian Seed Fund Scheme will provide financial assistance to startups, and will be disbursed through selected incubators.
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The Rs 945 crore Startup India Seed Fund Scheme (SISFS) will be operational from April 1, 2021, to 2025 as the government looks to boost the ecosystem, providing the crucial capital for young companies.
The scheme will be implemented by the Department for Promotion of Industry and Internal Trade (DPIIT).
In a gazette notification, the government announced that Startup India Seed Fund Scheme will provide financial assistance to startups that have been recognised by the DPIIT and incorporated not more than