That’s unfortunate. India should become an economic superpower in the next 25 to 50 years.
That would require broad adoption of Indian products and services outside of India.
They already have the second one.
Nearly a third of Indian startup founders surveyed are considering moving abroad
11–20 of 40 posts
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#12What exactly "startup-friendly tax regime" does Singapore have and India doesn't?
https://inc42.com/features/the-curse-of-angel-tax-travelkhan... In addition to incidents like these, corruption is widespread in India. Exports qualify for GST exemption or refund, but in practice refunds are hard to get (at least without a 5% or more bribe).
Scary. Tells you about what a state drunk on its power can do; no wonder India is so big on 'digital transactions' (pushed, interestingly, by the likes of USAID).
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#13What would be their primary destination of choice, and what are the major factors preventing them from moving?
For us, its Singapore, low taxation rates, what we understand is low compliance and supports online operations. Proximity to India (5 hours by flight) makes it an ideal destination. Factors Preventing - Nobody in my circle has this setup, making me worried about unknown challenges - Double Taxation issue. I am not clear what will be taxation liability, I have talked to multiple CAs and they all say multiple things -…
What about finding workers and payroll costs?
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#14Earlier quoted context omitted.
For us, its Singapore, low taxation rates, what we understand is low compliance and supports online operations. Proximity to India (5 hours by flight) makes it an ideal destination. Factors Preventing - Nobody in my circle has this setup, making me worried about unknown challenges - Double Taxation issue. I am not clear what will be taxation liability, I have talked to multiple CAs and they all say multiple things -…
What about finding workers and payroll costs?
A lot of India based SaaS companies register in Singapore or USA while keeping their entire dev team (and sometimes even the rest of it: sales, marketing, support, etc) in India.
The incentives being ease of international transactions, capital / debt availability, simpler tax policies.
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#15Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#16That’s unfortunate. India should become an economic superpower in the next 25 to 50 years.
Another 3rd of indians just want to leave india. There are now cities in Canada for example that are Indian majority.
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#17What exactly "startup-friendly tax regime" does Singapore have and India doesn't?
I used to run a startup in Singapore, and 0% corporate tax for the first 3 years, 0% capital gains tax, and 0% income tax on local dividends was a pretty sweet deal. (I'm not sure what the current corp tax rates are, but AFAIK the latter two are unchanged.)
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#18Earlier quoted context omitted.
They already have the second one.
Unfortunately that's only because they are cheap
India is predicted to be #3 by 2050, almost equaling the US:
https://www.theatlantic.com/business/archive/2012/02/the-wor...
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#19Earlier quoted context omitted.
Unfortunately that's only because they are cheap
India is predicted to be #3 by 2050, almost equaling the US: https://www.theatlantic.com/business/archive/2012/02/the-wor...
It can be a large economy, in part because there are 1.3bn inhabitants, but my point is that people consume services provided by Indian companies largely because they are cheap.
Re: Nearly a third of Indian startup founders surveyed are considering moving abroad
#20Earlier quoted context omitted.
They already have the second one.
Unfortunately that's only because they are cheap
Thats exactly what people said of China 15 years ago. Just a bunch of factories good for cheap knockoffs, not a place for high quality stuff. Now they have Tencent, Baidu, Huawei etc and a #2 spot in the global economy.