End angel tax; give sops for domestic venture capital industry: Sanjeev Bikhchandani

Sanjeev Bikhchandani, Founder, Info Edge, says “we are hoping that the angel tax gets eased out. We are hoping that there is some sort of incentive for investors to invest in VC funds and startups because we need domestic venture capital industry, domestic investments into startups, risk capital, to get a fillip.”

What are your expectations from Budget 2024?
Sanjeev Bikhchandani: Policy pronouncements from the government come through the year and not just during the Budget. But budget is one more occasion to do it. So, we are hoping that the angel tax gets eased out. We are hoping that there is some sort of incentive for investors to invest in VC funds and startups because we need domestic venture capital industry, domestic investments into startups, risk capital, to get a fillip.

I think the IPO processes are fairly streamlined and we have seen a number of IPOs in the last two or three years from new-age tech companies. Now, several of them are doing well, some of them are not but that is the market condition.


I am not sure we need any change in the domestic IPO processes at all. Already, we are seeing that those who have flipped to go overseas are finding they cannot list overseas. Many of them are coming back to India.