India's rapid expansion is causing a trend in which entrepreneurs are "reverse flipping."
The growth rate of India, as highlighted by Commerce Secretary Sunil Barthwal, is over twice that of comparable emerging market nations. He was giving a speech at a Singaporean event that the ministry of trade had organized to highlight different Indian investment opportunities.
According to a top government official, India's rapid growth is causing a trend known as "reverse flipping," in which domestic companies who previously relocated overseas in order to access funding and take advantage of tax breaks are now going back home. Future Indian growth, according to Commerce Secretary Sunil Barthwal, would depend on the digital economy, developing technology like artificial intelligence, and the growth of data centers.
He was giving a speech at a Singaporean event that the ministry of trade had organized to highlight different Indian investment opportunities.
Barthwal emphasized that compared to other emerging market economies, India's growth rate is almost twice as high.
"He remarked on how this strong growth is also leading to a trend of 'reverse flipping', where Indian startups that once moved abroad for capital access and tax benefits are now returning home," the ministry stated in a statement on Friday.
India's economy expanded by 8.2% during the fiscal year that concluded in March 2024, solidifying its standing as the world's fastest-growing major economy.
More than sixty people attended the meeting, including government officials and corporate sector representatives from India as well as international investors from the US, Singapore, Japan, Australia, Korea, and other nations.
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