Pre-budget quote by Saurabh Jaitly, Co-Founder, Shippigo

Delhi : Saurabh Jaitly, Co-Founder, Shippigo, “After being hit by COVID19, logistics industry started getting back on track after initial hiccups.  As the logistics industry is getting digitalized, we are looking forward to digitalized taxation and documentation through a single-window which will not be time-consuming for startups. As any start-up is resource-constrained and a good amount of time is spent on tax calculation and statutory compliances. A special fund should be set up by the government to provide easier access to capital for startups.

We expect a lower income tax rate for newly incorporated startups as currently the newly incorporated manufacturing companies are taxed at 15%. Startups are largely dependent on foreign investments to build their brands; the government should look into incentives that motivate Indian investors to help support Indian startups. The government should reduce long term capital gains on the sale of shares to 10% at par with foreign investors. There is a dire need for more and more investment in tech that will improve the functioning of the companies which will make Indian logistics industry at par with leading global companies.”