J P Chawla & Co. LLP

FinePrint Vol. 7

India has transitioned from a bureaucratic labyrinth to a thriving business destination, enticing investors worldwide. Through initiatives like EoDB 2.0, its Ease of Doing Business ranking skyrocketed from 142nd in 2014 to an impressive 63rd in 2020. Simplified procedures, digital advancements, and legal reforms have driven this transformation, complemented by tax reforms such as GST and corporate tax rate reductions. Startup India initiatives bolster entrepreneurship with financial support and streamlined processes. With over 1,23,900 recognized startups, India boasts the world’s third-largest ecosystem, buoyed by government schemes facilitating funding, global exposure, and recognition. This burgeoning ecosystem has witnessed remarkable growth, with unicorns valued at $350 billion, underscoring India’s trajectory toward global leadership in innovation and entrepreneurship.

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