Flipkart co-founder Binny Bansal's advice for startups: ‘Incorporate in India even if…’
Binny Bansal said, "My advice to founders would be if you are building in India, even if you are building global companies too, to incorporate in India."
Flipkart co-founder Binny Bansal advised Indian founders to incorporate their startups in India and choose their home country as a base for new age companies rather than choosing countries such as the United States and Singapore. This comes after Walmart-owned payments giant PhonePe moved its domicile back to India. Reports claimed that unicorns such as Flipkart, Meesho, Groww, Zepto, Pine Labs, Razorpay and Udaan are all looking to domicile in India as they choose to move out of countries like the US and Singapore ahead of public listing in India.
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Binny Bansal told Moneycontrol, “Domicile equation was about where you wanted to go public. If you domicile in India you couldn't go public in the US. The US was the default before the market opened up for tech IPOs (in India) but now it's clear that India is a great destination for tech IPOs – you will see a lot of IPOs here. My advice to founders would be if you are building in India, even if you are building global companies too, to incorporate in India."
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Earlier Nikhil Kamath, co-founder of Zerodha, advised fellow entrepreneurs in India to consider taking Indian brands global instead of opening franchises of global brands in India. Nikhil Kamath said that the Indian narrative, with its rich history, royalty, mystique, and craftsmanship, is resonating globally.
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"To all my entrepreneur buddies, the future may be to take Indian brands global, not franchise global brands in India. The Indian narrative is getting cool globally, we have mystique, royalty, history, artisan, handmade, exotic, and so much more to sell" he said in a post on X (formerly Twitter).
