India's strong growth leading to trend of 'reverse flipping' for startups
India's strong growth is leading to a trend of 'reverse flipping' as domestic startups that once used to move abroad for capital access and tax benefits are now returning home, a top government official has said. Commerce Secretary Sunil Barthwal also said that the digital economy along with emerging technologies like AI and the rise of data centres were key to future Indian growth.
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He was speaking at an event in Singapore organised by the commerce ministry to showcase various investment opportunities in India.
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Offering CollegeCourseWebsiteIIT DelhiCertificate Programme in Data Science & Machine LearningVisitIndian School of BusinessISB Product ManagementVisitMIT xPROMIT Technology Leadership and InnovationVisitIt was organised on the sidelines of the inaugural Indo-Pacific Economic Framework for Prosperity (IPEF) Clean Economy Investor Forum in Singapore.
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Barthwal stressed how India's growth rate is nearly double that of other emerging market economies.
«He remarked on how this strong growth is also leading to a trend of 'reverse flipping', where Indian startups that once moved abroad for capital access and tax benefits are now returning home,» the ministry said in a statement on Friday.
India's economy grew by 8.2 per cent in the fiscal year that ended in
