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SJM seeks ban on overseas listing of Indian startups

SJM has expressed concerns about the increasing trend among startups to register abroad, saying at least 29 Indian startups and entities like Flipkart have registered abroad. This according to them leads to loss of revenue for the Indian government and therefore no direct overseas listing should be allowed.

The Swadeshi Jagran Manch has focused on small businesses in its pre-budget recommendations, urging government to bring back the policy of reserving certain commodities for manufacturing by small scale industries only.

They have also said weighted deductions or incentives to small industries must be provided to help them create more jobs and small businesses should get equity support as well.

SJM has said the government must look at providing special incentives other than PLI scheme for encouraging manufacturing of goods which are heavily imported. They have said that government can increase scope for MNREGA to allow hiring by small scale industries and farmers to encourage job creation.


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