By Sheshgiri Kamath
Startups have long been wishing for the relaxation of the FEMA laws. The ease of inbound/outbound financial transactions internationally has been a much-debated subject due to the number of startups that are raising capital from foreign funds. Currently, there are talks around simplifying the compliance procedure with reduced paperwork – especially the ones pertaining to filings. Startups will definitely benefit immensely if filings, returns, and submissions are made online.
The technology sector has faced tailwinds in recent times, especially during the pandemic. Making the process of raising capital a little easier by simplifying foreign outward and inward transactions will go a long way. Additionally, making changes to capital gains tax and the tax structure on ESOPs is going to help the sector tremendously as well.
‘Make in India’ is another initiative where technology companies have been leading from the front, especially considering the size of the Indian software exports. And as reportedly, the government is planning to make this the best budget in the past century, I believe that the tech space is eagerly awaiting big changes.
(Sheshgiri Kamath is the Co-founder & CEO of Kapture CRM, a Cloud-Based SaaS Customer Relationship Management Software for enterprise-grade. Kapture focus on sales and customer service automation for mid to large size companies. Currently, they are focused on industries like Education, E-commerce Internet companies, Real estate, Hotel, Travel, Cruise Line, Airlines, Pharma and Medical Equipment sales. Views are personal)