**Start-Up India is started by which Ministry?**
Verified**Explanation:**
The Start-up India initiative was launched by the Ministry of Commerce and Industry, Government of India, on January 16, 2016. This flagship program was announced by Prime Minister Narendra Modi during his Independence Day speech in 2015 and was formally rolled out to create a supportive ecosystem for startups in the country.
The Ministry of Commerce and Industry oversees this initiative through the Department for Promotion of Industry and Internal Trade (DPIIT). The ministry was chosen to lead this program because it handles matters related to industrial policy, promotion of industries, and trade facilitation. Since startups are essentially new business ventures that contribute to industrial growth and economic development, it made perfect sense for this ministry to spearhead the initiative.
The primary objectives of Start-up India include building a strong ecosystem for nurturing innovation and startups, driving sustainable economic growth, and generating large-scale employment opportunities. The initiative aims to support entrepreneurs in starting their ventures by providing various benefits such as tax exemptions, easier compliance procedures, and faster patent examination processes.
Under this program, the Ministry of Commerce and Industry has introduced several key features including the Start-up India hub, which serves as a single-point contact for startups. The ministry also established the Fund of Funds scheme with a corpus of Rs. 10,000 crores to provide funding support to startups. Additionally, it created incubation centers and launched various schemes to promote innovation and entrepreneurship across different sectors.
The ministry has been instrumental in simplifying regulatory procedures for startups, including self-certification compliance, mobile app-based business incorporation, and patent application processes. These efforts have helped India emerge as one of the largest startup ecosystems globally, with thousands of recognized startups across various industries including technology, agriculture, healthcare, and manufacturing.
