Stay in India to curb startup exodus from India
Modi's new plan, Stay in India, to curb startup exodus from India.
Times of India the Indian government is planning a series of measures that it hopes will curb startups from fleeing the country, reacting to concerns that companies prefer to domicile overseas after reaching a certain size. The government will announce broad measures to help startups "Stay in India," according to two people familiar with the matter, as part of its Startup India conference on January 16.
The government is adopting some proposals from a 36-point list presented to it by software product think tank iSPIRT to reverse the exodus of technology startups. "About 75% of funded technology startups are redomiciling outside India due to regulatory irritants," iSPIRT said in a post on its website, written by Eko India Financial Services chief executive Abhishek Sinha, after a meeting with the Prime Minister's Office. "It was clear that all the officials were determined to make quick progress and were truly concerned by the exodus of tech startups from India," he said.