Is India a Good Place to Start Up in 2023?

In this debate, we take a look at whether India is a good place to start up or not.

00:00 Intro
03:02 Heavy Tax on Gaming Startups
07:05 Crackdown on Crypto Startups
10:36 Ease of Doing Business in India
14:16 India Vs Other Countries
15:18 A Real-life Story
18:23 Progress Over Time
22:36 Reality Check
24:37 Bad Experience of Foreign Companies
27:37 Legal Challenges in India
28:22 Closing Thoughts

In this video, we debate whether India is a good place to start a business in 2023. It begins by highlighting the contrasting experiences of individuals who have either left India for business opportunities in the US or returned to India's startup ecosystem. It mentions the departure of high-net-worth individuals (HNIs) from India and the challenges of starting a company in the country. The debate then delves into several key factors that influence the decision to start a business in India, including taxes, regulations, compliance, infrastructure, and corruption.

Uncertain Tax, Regulations, and Compliance:

- The debate starts with a discussion of the 28% GST (Goods and Services Tax) on real money gaming apps, which has affected India's gaming industry.
- One side argues that this tax could stifle the industry, leading to job losses and business closures.
- The opposing viewpoint suggests that the tax aims to place real money gaming platforms in a more appropriate tax bracket.
- The discussion expands to include the crypto industry and the government's attempt to regulate it with taxes, raising concerns among startup founders.
Compliances and Corruption:

The ease of doing business in India

It is noted that starting a business in India is still challenging due to the number of licenses and documents required, though the time required for business registration has decreased.

We discuss a case of a prospective entrepreneur facing excessive regulations and corruption in setting up a factory.

The improvement in India's ease of doing business rankings is acknowledged, and the journey India has undertaken in the last 30 years since liberalization in 1991.

Overall Infrastructure:

We then discuss the overall infrastructure and development of the Indian startup ecosystem.

It is pointed out that the number of startups in India has grown significantly in recent years, showcasing the appeal of India as a startup hub.

Final Verdict and Closing Thoughts:

The debate concludes with contrasting viewpoints on India's suitability as a startup destination.
One side is optimistic about India's future potential, citing its growing startup ecosystem.

The other side remains skeptical, pointing to the desire of many to leave India, challenges with regulations and compliance, and the success of Indian-origin entrepreneurs abroad.
In summary, the text presents a nuanced debate on India's prospects as a place to start a business in 2023.

The discussion covers various factors, including taxes, regulations, compliances, infrastructure, and corruption, highlighting both the opportunities and challenges faced by entrepreneurs in India. The final verdict remains divided, with one side expressing optimism about India's potential and the other remaining cautious about the existing hurdles.

Connect with us:

[backstagewithmillionaires]

Who do you think won the debate? Caleb or Pankaj?

[bharatgoyal]

My father says in business if you are earning 10 rupees and losing 2 due to some reason and then if you ever try to pick or save those 2 rupees you will end up losing the entire 10 rupees. The same is for Indian government support startups if because of 2-3 scams you will stop supporting the startup eventually the whole system will collapse.

[vichars]

Give freedom to start-up, investors... Then see the magic

[mangola-xu]

Once an author Tavleen Singh said "In India, Terrorists, muderers and gangsters have more rights than an entrepreneur and business person"
In India, Terrorists, murderers and gangsters can rule and taxpayers and job creators entrepreneurs are punished.

[Akshay-bcet]

Damn, I wish I had Caleb's outlook on life 😂.
My fave - "Its getting better, not worse"

[lokeshm]

I support Pankaj. because I’m try to get startup loan or grant for past 6 months. but I don’t get any support from government. I have travelled more than 20 times to startupTN office and incubation centres

[vishwajeetsharma]

I really love your videos 😊
Keep up with the good work

[haan]

Brilliant writing, each argument had me convinced 👏🏻👏🏻

[brucearmstrong]

You guys are yin and yang for this show, always learn something new, keep this up🎉

[firozjalal]

I felt like Optimism Overloaded on the Host side, but yes such Optimistic people are seriously very very necessary in a painfully hopeless economy and government, that helps startup entrepreneurs a lot in not suicides or such other desperate measures.
Hope is a walking dream. I have been walking for a long time in this path and everytime I end up depressed I get to have a friend like you who will inspire me to make a product and sell just to such nice people, ignoring all the wrong elements in our society, however a make-belief that would be.

[golanfernandes]

Loved the podcast❤️. I didnt know governments can also affect companies with the whole reactive tax bs.

[rburtch]

Love the channel. Your insight is great. But I wonder if it would be more beneficial to show how to be successful in starting a business in India. There is a lot of negative fatalism and opinions around introducing new products/services into India (speaking from experience) and I think there would be a lot of value in showing people how to overcome the challenges that exist when starting up. Would love to hear your thoughts.

[rohanvkumarv]

This is such a good and insightful video but only 6-7k views? Yt really kills some good stuff...

[rajasekharlakkoju]

I agree with pankaj in all aspects comparing to competative to other nations but I will also support the growth gradually and I will shut the bad investment on gambling games which is directly affecting the people in india which inspires many others to consumes but not productive.

[rajat]

quite insightful!
i wanted Caleb's points to win, but I know what Pankaj said is the reality :(
also, no offense, but Pankaj and Caleb's angry faces in the thumbnail look funny XD

[pratyakshrastogi]

I think you should make these insightful videos more catchy to catch more eyeballs, this video deserved much more than 7.2 k ( solely based on things which were talked about ) . but i think you can improve the thumbnail and work upon the background and all as in other podcasts

[vivekkumar-lsdf]

Completely agree with you guys, every single point makes sense.

[azamali]

Very nice and u guys are underrated damn!!

[saandilyaagundu]

Just seen the title, didn't watch the video. I will give you the answer, India is a bad place to start business.

Edit: - Watched the video. Good debate.

[bhuvankrishnan]

Sounds great from both side. India or foreign countries business is the best thing to do