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PIB Summaries 17 January 2024

  1. Startup India Initiative
  2. Exercise Ayutthaya


Context:

National Startup Day is observed annually on 16th January to appreciate and promote the Indian Startup Ecosystem.

Relevance:

GS III: Indian Economy

Startup India Initiative: Nurturing Innovation and Growth

Initiation and Vision:

  • Launched on 16th January 2016, the Startup India initiative aimed to foster innovation, support emerging startups, and catalyze investments.

Eighth Anniversary Milestone:

  • Celebrating its eighth anniversary in 2024, the program has witnessed remarkable growth, expanding from 400 startups in 2016 to a thriving ecosystem comprising over 1.18 lakh startups.

Government Benefits for Recognized Entities:

  • Recognized startups receive various government benefits, including compliance self-certification, assistance in patent applications, and tax exemptions.

Financial Support through SIDBI Fund of Funds:

  • The SIDBI Fund of Funds scheme has played a pivotal role, granting 2,977 income tax exemptions and providing funding to 3,658 startups, demonstrating substantial financial support.

Comprehensive Initiatives:

  • The Startup India program encompasses diverse initiatives, including the Seed Fund scheme and Credit Guarantee Scheme, contributing significantly to the growth and sustainability of startups.


Context:

Recently, the maiden Bilateral Maritime Exercise -Ayutthaya’ between the Indian Navy (IN) and Royal Thai Navy (RTN) was conducted.

Relevance:

GS III: Security Challenges

Exercise Ayutthaya: Strengthening Naval Collaboration Between India and Thailand

Significance of the Name:

  • The bilateral exercise between India and Thailand is named ‘Ex-Ayutthaya,’ translating to ‘The Invincible One’ or ‘Undefeatable.’
  • Symbolizes the historical and cultural ties between the two nations, referencing the significance of Ayodhya in India and Ayutthaya in Thailand, both ancient cities with rich legacies.

Participation of Indian Naval Ships:

  • Indigenously built Indian Naval ships Kulish and IN LCU 56 actively participated in the inaugural edition of Exercise Ayutthaya.
  • Marks a significant step in strengthening operational synergy between the two navies.

Exercise Complexity and Operational Synergy:

  • Introduction of this Bilateral Exercise signifies the commitment of both navies to enhance operational synergy and progressively increase the complexity of joint exercises.

Activities during Maiden Edition:

  • The maiden edition involved participating units from both navies engaging in surface and anti-air exercises, including weapon firing, seamanship evolutions, and tactical maneuvers.
  • Maritime Patrol Aircraft from both navies participated in the Sea Phase of the exercise.

Coordinated Patrol and Regional Maritime Security:

  • The 36th edition of India-Thailand Coordinated Patrol (Indo-Thai CORPAT) was conducted alongside the maiden bilateral exercise.
  • Aligns with the Government of India’s vision of SAGAR (Security And Growth for All in the Region), emphasizing regional maritime security.

Strong and Friendly Relations:

  • The Indian Navy and Royal Thai Navy have maintained a close and friendly relationship over the years.
  • Collaborative engagements, such as Exercise Ayutthaya, contribute to the strengthening of maritime cooperation and security in the Indian Ocean Region.

March 2024
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