The Union Budget 2022 had quite a bit takeaways for the Indian startup ecosystem. Here’s what Mr. Gautam Dhar, Managing Director & CEO, Plantas (India’s first & the only complete range of EcoCert Cosmos V3.1 certified organic beauty brand) has to say on Budget 2022 presented by Finance Minister Nirmala Sitharaman.
“Global supply chains have faced considerable hurdles as a result of the COVID-19 epidemic. Multiple countrywide lockdowns continue to stifle, if not completely halt, the movement of raw materials and finished goods, causing manufacturers to suffer. Local startups have worked hard to stay up with the competition. We are relieved to see that the term of incorporation for startups has been extended by a year to 2023, allowing us to take advantage of tax benefits. As more Indians engage in Atmanirbhar bharat schemes, promoting drone startups and allowing companies an extension to set up production units till 2024 would undoubtedly boost the industry. The allocation of 60% of the R&D funding to Make In India reemphasizes the importance of connecting the growth of new entrepreneurs with the expanding Indian economy” Mr. Gautam Dhar, Managing Director & CEO, Plantas
