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Govt Considering Demands For Direct Overseas Listing: Report
Prime Minister Narendra Modi with Railway Minister, Piyush Goyal. (Virendra Singh Gosain/Hindustan Times via GettyImages)
The central government has maintained that it is considering the demands of several companies that wish to get listed directly overseas, Times of India (TOI) reports.
This statement has come on the backdrop of the interactions important policymakers will hold with startups this week.
Direct overseas listing has been in the talks amongst crucial stakeholders due to the absence of tax benefits in the process. Businesses are possibly lobbying for this mechanism before the Union Budget to be announced at the beginning of February.
However, it has been reiterated that a healthy ecosystem must be cultivated within India simultaneously.
Anurag Jain, secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), quipped, “There can be certain categories where the ecosystem in other countries can look better. We have one of the best ecosystems now.”
While Union Commerce Minister Piyush Goyal will be interacting with the global community of venture capitalists (VCs), Prime Minister (PM) Narendra Modi will discuss multiple policy-related issues in the Startup India Innovation Week that kicks off on Monday.
During the week, about 250 startups will be directly pitching their ideas and businesses to about 80 investors.
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