New Delhi: India’s capital markets regulator SEBI on Monday said that it is making best efforts to check the flight of start-ups to other countries by creating a conducive climate for their growth in India.
“Start-up and SME IPOs have begun to develop in India. The perception, however, is building that start-ups are flying away from India and better performing wooing investments in countries like US and Singapore but this remains a perception at a time when such a thing has begun to happen,” Securities and Exchange Board of India (SEBI) chairman U.K.Sinha said at an event here organised by the PHD Chamber of Commerce and Industry.
“This will change in due course and India will shortly begin witnessing sufficient conducive conditions and climate for start-ups to stay put in India and diversify their operations from being based here,” he added.
In this regard, Sinha said SEBI would recommend to the government even tax concessions for start-ups.
He also said that close to 8,000 foreign portfolio investors were registered in India, reflecting the strength of its capital market.
“The start-ups exodus outside India would stop and a vast majority of them would prefer to work from here as already a good number of them are operating from here,” Sinha said.
Among those who participated in the event included National Stock Exchange of India’s business development head Ravi Varanasi and Bombay Stock Exchange SME platform head Ajay Thakur.