India has strived to position itself as a global hub for innovation and investment, and it has mainly seen positive results. Despite a downturn in 2022-23 that was part of a worldwide downturn in venture capital funding, India has emerged as the second-largest destination for VC funding in Asia.
However, the so-called angel tax introduced in 2012 had been a significant policy impediment to investment in India. The government has just abolished the tax, opening the door for more investment.
The tax applied to startups that received investments totaling more than their fair market valuation. Its aimed ...
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