Startup India Association requested Ministry of Commerce to exempt startups from the recent FDI curbs placed on investors from neighboring countries such as China. BENGALURU: Startup India Association (SAI), an advocacy group representing the Indian startup community has requested the Ministry of Commerce to exempt startups and existing shareholders in them from the recent foreign direct investment (FDI) curbs placed on investors from neighboring countries such as China.
In a letter to Commerce Minister Piyush Goyal, SAI said that since 2015 foreign investors have put in around $82.1 billion into Indian startups through various funding channels including FPIs, venture capital, and alternate investment funds.