Flipkart co-founder Binny Bansal advises startups to incorporate in India

Binny Bansal, co-founder of Flipkart, urged Indian founders to incorporate their startups in India amid a trend where many companies are relocating their bases from countries like the US and Singapore back to India. This shift follows examples such as PhonePe, which moved its domicile to India, incurring a significant tax liability. \r

Bansal highlighted that India now offers a conducive environment for tech IPOs, making it a favorable destination for startups looking to go public. He emphasized the benefits of incorporating in India for companies building global operations. \r

The move is expected to facilitate easier access to capital markets and regulatory frameworks tailored for domestic listings, potentially encouraging more unicorns like Flipkart, Meesho, and Razorpay to domicile in India ahead of their planned IPOs.