DIPP/DPIIT Registration Process in India
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DIPP/DPIIT Registration Process in India
DIPP/DPIIT Registration is known as registering a business under the Department of Industrial Policy and Promotion. It is a process of obtaining industrial licenses, permits, and approval from the respective department according to the nature of businesses or activities. This department must design and apply the policies to promote industrial growth, and sustainable development, and attract foreign direct investment in India. To boost economic growth, innovation, and employment generation, the Government of India provides several benefits to startups in the form of taxation, Regulatory support, and other certification and compliance through DIPP Registration.
Registration under DIPP/DPIIT provides various advantages that are defined below
Promote Employment
Startups have the potential to reduce the unemployment rate. By providing various benefits to the startups, Government aims to generate more job opportunities, bringing new innovation and technology. This helps to increase employment, economic expansion & development, etc.
In order to encourage startups in India, Various statutory benefits are provided by the Government such as in the form of tax. Startups are exempt from paying the tax for three consecutive years out of their first ten years of incorporation (Three years tax holidays).
Access to Foreign Investment
Startups bring new ideas and technology that help to attract foreign investors. The contribution of foreign investors brings not only capital but also creates a favorable ecosystem through knowledge exchange, technology transfer, and global collaborations.
Innovations and Technology Advancement
Startups bring innovative ideas, products, services, and new technologies. The government intends to promote a culture of innovation by encouraging startups that help India to stay competitive globally and develop a knowledge-based economy.
Sustainable Development
Apart from economic growth, Startups also give attention to environmental and social issues such as clean energy, sustainable development, workplace safety, human rights, etc. By supporting such startups, the government promotes environmentally friendly practices, social welfare, and sustainable economic growth.
Eligibility criteria to obtain DIPP/DPIIT Registration
The startup should be registered as a partnership firm, LLP, or a private limited company under the relevant laws, and the age of the startup should exceed ten years old from the date of its incorporation. In terms of revenue, annual turnover should not exceed INR 100 crores in any of the previous financial years. The DIPP/DPIIT registration process in India provides the necessary guidelines and procedures for startups to obtain official recognition and benefits.
The purpose of the startup should be innovation-driven. The objective of the startups may vary according to their specific industry, business model, and goals. However, some common objectives for startups include, introducing innovative products or services, bringing new technology into the market, and encouraging sustainable development.
The process to obtain the DIPP/DPIIT Registration
Online Registration by filing the prescribed form.
Self-declaration about the eligibility criteria.
Payment of registration fee.
Verification and approval with the relevant authorities.
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