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"In a landmark move, the 2024 Union Budget slashes the angel tax, unleashing a new era for Indian startups."

Maruti Suzuki, India's largest automobile manufacturer, has reached a significant milestone by exporting over 1,600 units of its Fronx SUV to Japan. This marks the first time that SUVs manufactured in India have been exported to the Japanese market, underscoring the success of the "Make in India" initiative launched by Prime Minister Narendra Modi in 2014. This initiative aims to transform India into a global manufacturing hub, and the export of the Fronx serves as a testament to its effectiveness.

Starting a new business is an exciting venture, but it comes with its own set of challenges, particularly in the realm of compliance. As regulations continue to evolve, startups must navigate a complex legal landscape to ensure they meet all necessary requirements. Business lawyers often observe that this regulatory environment can be overwhelming for new entrepreneurs. This article explores the top five compliance challenges faced by startups in 2024, drawing insights from perspectives from experienced business lawyers who regularly advise on these matters.

The world of cryptocurrencies has captured the imagination of investors and businesses alike. India is no exception, witnessing a surge in interest in these digital assets. However, the legal and regulatory landscape surrounding cryptocurrencies in India remains unclear. While the Supreme Court in 2018 struck down the RBI's banking ban on cryptocurrencies (you can read a detailed analysis of this judgment by SEBI lawyer Vaneesa Agrawalhere), the absence of a comprehensive regulatory framework creates a sense of uncertainty.

Funds play a significant role in supporting the startups. It allows individuals with innovative and business-oriented mindsets to take risks and invest their time and efforts in startups. Considering this, on 7th March 2024, the Union Cabinet approved over Rs 10,000 crore fund for promoting AI-centred industries. Out of which, close to Rs 2000 crore fund will exclusively be allocated to the AI startups.

Funds play a significant role in supporting the startups. It allows individuals with innovative and business-oriented mindsets to take risks and invest their time and efforts in startups. Considering this, on 7th March 2024, the Union Cabinet approved over Rs 10,000 crore fund for promoting AI-centred industries. Out of which, close to Rs 2000 crore fund will exclusively be allocated to the AI startups.

Funds play a significant role in supporting the startups. It allows individuals with innovative and business-oriented mindsets to take risks and invest their time and efforts in startups. Considering this, on 7th March 2024, the Union Cabinet approved over Rs 10,000 crore fund for promoting AI-centred industries. Out of which, close to Rs 2000 crore fund will exclusively be allocated to the AI startups.

The number of recognized startups in India grew from just 471 in 2016 to over 127,000 by April 2024

-DPIIT (Statista)

The startup ecosystem in India has witnessed remarkable growth in recent years, with innovative ideas and ambitious founders reshaping industries. However, Ms Vaneesa Agrawal, founder of Thinking Legal, highlights that navigating the legal landscape can be a daunting challenge, especially for early-stage startups.

In the digital age, data governance has emerged as a critical issue for nations worldwide. India, with its burgeoning startup ecosystem and rapid technological advancements, is no exception. The government’s focus on national security and development has led to the formulation of a draft framework for governing non-personal data. Their recent efforts are crucial for safeguarding national interests and fostering trust in the digital landscape, a task that often requires the expertise of a business lawyer to navigate the complex legalities involved.

In a significant stride towards strengthening the legal framework against insider trading, the Securities and Exchange Board of India (SEBI) has intensified its regulatory efforts, as noted by top firms like Thinking Legal across the nation.

These measures aimed at modernising the insider trading regime, hold immense promise for enhancing market transparency and upholding investor confidence.