From Zero To Unicorn, What Start-Ups Expect From Union Budget 2022
NDTV
Union Budget 2022: India has come a long way in becoming the preferred incubation centre for start-ups
When Prime Minister Narendra Modi launched the Start-up India campaign in 2016, the objective was to find ways to make it easier for start-ups to launch operations and flourish. It also included streamlining the process of funding and providing tax breaks. The Union Budget 2021 extended the tax benefits for 'eligible start-ups' till March 31 this year. Now, all eyes are on whether the government further extends this benefit or offers any other incentive to let start-ups grow into "unicorns" rapidly. Unicorns are privately held start-up companies that are valued at over $1 billion.
India has come a long way in becoming the preferred incubation centre for start-ups.
Towards the end of last year, India displaced the UK to reach the third position in the list of countries that are home to the largest number of unicorns. It added 33 unicorns in a single year.
While the initial impetus the government provided appears to be bearing fruits now, there is a need to do more to catch up with the US (which added 254 unicorns in the same period) and China (74 new start-ups), which occupy the top two positions.
