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News Grant of License for Manufacture of Defence Items ide Notification S.O. 1636 (E) dated for grant of license for manufacture of defence 19.05.2017 of Ministry of Home Affairs, items included in the said Notification. Vpowers and functions under sub-section (1) All the interested Entrepreneurs/ Industries/ of Section (5), clauses (b) and (c) of Section 7 and Companies are requested to apply in Form A-6 of Chapter III of Arms Act, 1959 have been delegated Arms Rules 2016 in 15 copies along with details to Secretary, Department of Industrial Policy and and enclosures as mentioned in the Arms Rules Promotion in respect of defence items included 2016 to the Senior Development Officer (Industrial in the Schedule. Consequently, power to grant License), Department of Industrial Policy and manufacturing license in respect of the category Promotion, Industrial Licensing Section, Udyog of arms and ammunition and defence items as Bhawan, New Delhi. A copy of the Arms Rules per columns (2) and (3) of Schedule to the said 2016 is available on the websites of Department of Notification has been delegated to Secretary, DIPP. Industrial Policy & Promotion (www.dipp.gov.in) and Ministry of Home Affairs(www.mha.nic.in). n Accordingly, Department of Industrial Policy and Promotion will now process the applications Start Up -Defnition changes tartup India was launched by the Government b) No Letter of Recommendation required: No of India on 16 January, 2016 to build a letter of recommendation from an incubator/ th Sstrong eco-system for nurturing innovation industry association shall be required for and Startups in the country to drive economic either recognition or tax benefits growth and generate large scale employment opportunities. c) Potential of Job and Wealth creation: The scope of definition has been broadened to In order to promote entrepreneurship in the include scalability of business model with country, the Government of India has amended the potential of employment generation or definition of a Startup. The following significant wealth creation. changes have been made to the definition of As a constant endeavour to facilitate the Startups – Startup ecosystem, the Department of Industrial a) Age of Startup increased: Taking into Policy and Promotion (DIPP) has been holding account the long gestation period by Startups extensive consultations with stakeholders. The to establish, an entity shall be considered as above changes are an effort to ensure ease of a Startup up to seven years from the date of starting up new businesses to promote the Startup its incorporation/ registration (from earlier 5 ecosystem and build a nation of job creators instead years). However, in the case of Startups in the of job seekers. n Biotechnology sector, the period shall be up to ten years from the date of incorporation/ registration. April-May, 2017 37
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