Speaking at a panel titled Homecoming Heros at the ET Soonicorns Summit, Sharma said, “I couldn’t find a single advantage of registering outside of India, unless and until your business isn’t Indian. If you are running a tech company, and you have no customers in India, or no employee in India. But if someone is doing business in India, from the perspective of attracting talent and capital, my advice would be to register in India.”
He also added that the Indian economy is thriving on consumption with consumer brands growing steadily, and recent IPOs also having done well.
This comes days after ET reported that the home decor startup is preparing to file for a domicile shift from Singapore to India.
Abhishek Dubey or Trilegal also spoke of companies flipping back to India. “If you asked a company why they incorporated overseas 10 years ago, the answer would be access to funds. And what is the reason now to reverse flip to India? Also access to funds, because in the past decade, India has emerged as a great economy. This, coupled with IPOs being a great exit route,” he said.
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Several startups that are now large firms had set up overseas bases for easier funding as well as due to easier tax policies in such jurisdictions. Over the past few years, the Indian government has been working on improving regulation to attract such companies back.
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