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Is India a Good Place to Start Up in 2023?
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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.
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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:
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