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GST and The Great Indian Startup – What the future holds for this booming sector

GST and The Great Indian Startup

There was a time in India when being an entrepreneur got you really sad looks, and a hopeless marriage profile (which as everyone knows, is worse than a hopeless work profile). Then the Silicon Valley found its second home in India, with Bangalore being the first choice, and saying that you were the founder of a ‘startup’ became the new cool. What started in the mid 2000s as a trickling back of California-bred NRIs looking for greener pastures to spread their wings has now become a tour de force of innovation and technology. So much so, that the government decided to start its own scheme called ‘StartUp India, Stand Up India’ in 2015 to give this rapidly growing sector a helping hand. It’s a smart move to rope in and formalise a chaotic industry that still managed to bring in $3.5 billion (Q2-Q3 2016) in angel and direct investments.

So, yes. The startup boom in India has begun full flow. We rank third globally with over 4,200 startups and the number is set to increase to 10,000 by 2020. The sector employs over 85,000 professionals and is proving to be an important growth engine for India’s economy and society. With around 3 startups born every day in the country, one just has to ask – how will the new tax laws under GST affect a sector that is probably the next best thing since the internet boom of the 90s?

GST and The Great Indian Startup

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