Ruchit Agarwal, Co-founder and CFO, CARS24
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Ruchit Agarwal, Co-founder and CFO, CARS24

We strongly commend the government’s focus on strengthening the EV ecosystem through manufacturing and charging infrastructure initiatives. This will undoubtedly be a significant boost to India’s sustainable transportation goals.

However, alongside this positive development, we also urge the government to consider the broader needs of the startup ecosystem. Many Indian startups, for various reasons, incorporate outside the country. While these startups contribute significantly to the global economy, many also aspire to return to India and contribute to their home nation’s progress.

We believe that introducing clear and supportive policies for returning startups, including tax breaks or relaxed regulations, would be a powerful incentive. This would attract valuable talent, innovation, and investment back to India, fostering a vibrant domestic startup ecosystem. Ultimately, such measures would benefit not only returning startups but also the Indian economy as a whole.” – Mr. Ruchit Agarwal, Co-founder and CFO, CARS24

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