Government announces 50% discount for startups, small industries, women entrepreneurs

BusinessGovernment announces 50% discount for startups, small industries, women entrepreneurs

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Government announces 50% discount for startups, small industries, women entrepreneurs

The government on Tuesday reduced the annual marking fees for micro industry, startups and women entrepreneurs to get a new BIS license by 50 per cent. He also said that the services of BIS are now available free to all people and can be downloaded from the standardization port of e-BIS. The Bureau of Indian Standards (BIS), a government quality standards-setting body, issues licenses with a standard mark to identify the entity that has manufactured the product at a specific location.

Food and Consumer Affairs Minister Piyush Goyal tweeted that the government has given 50 percent discount on new BIS certification of products for startups, micro industry and women entrepreneurs. He further said that 10 percent additional exemption will be given to the existing license holders, which will give a boost to the government’s Vocal for Local Campaign.

According to BIS Director General Pramod Kumar Tiwari, more companies are expected to come under the purview of licensing and certification arrangements by offering exemption for new licenses. He said that the minimum annual marking prices for new licenses vary from product to product. For example, the fee for water is around Rs 1,60,000.

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