INDIA’S STARTUP ecosystem is the world’s third largest after the United States and China. Bengaluru, Gurugram, Noida, Mumbai and Hyderabad are buzzing with new startups in fields as diverse as online education, artificial intelligence, big data, logistics, payment gateways, foodtech and regional language video streaming.
But there is a cloud overhead. It’s called over-regulation. Despite the Indian government’s efforts to ease the process of registering a company, startups still face a mountain of bureaucratic hurdles. In Singapore it takes 30 minIutes – that’s right, 30 minutes – to set up a company. No wonder Indian startup entrepreneurs, besieged by Angel tax notices (reluctantly withdrawn) and a slew of clearances needed to set up an enterprise, are choosing to take their business to countries like Singapore.
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