On The Path To Recovery

The year 2020 is nothing short of a nightmare for India’s entire startup ecosystem, which was on an upward spiral making the nation proud. However, COVID-19 induced lockdown brought everything to a screeching halt, barring fintech, telemedicine and a few others, enabling digital offerings. In fact, four Indian startups gained the unicorn status during the slump. With restrictions getting curbed, the sector is crawling back on track and is witnessing growth. A Parliamentary panel in its report -‘Financing the Startup Ecosystem’ - notes that Indian startups must tread the path of self-reliant India and must cease their dependence on foreign investment for growth. It has recommended abolishing of tax on long-term capital gains for collective investment in startups through angel funds, alternate investment funds and limited liability partnerships. Amongst a raft of...