Direct overseas listing of Indian startups not expected in Budget FY23

The industry department is examining the matter to understand exactly what the startups want, DPIIT secretary Anurag Jain says

The government is examining the industry’s request to allow direct overseas listing of Indian startups, but a resolution may not be a part of the FY23 Union Budget.

The industry department is examining the matter to understand exactly what the startups want, Department for Promotion of Industry and Internal Trade (DPIIT) secretary Anurag Jain said on Sunday.

“I don’t think it can be resolved that  quickly (by February 1),” Jain told reporters.

“To my mind there is nothing that stops them from doing this. Why do they want to go outside and list, what are the factors that are not