India advances tax reforms and regional startup funding

India is implementing tax reforms aimed at transforming the nation into a global hub for investment decisions. A new Bill introduced by Finance Minister Nirmala Sitharaman proposes significant changes to the safe-harbor regime for offshore investment funds. By simplifying existing requirements—such as minimum investor bases and investment caps—the reform seeks to reduce the tax risks associated with appointing India-based fund managers for offshore funds.

On a regional level, the state of Uttarakhand is reporting significant growth in its startup ecosystem. Chief Minister Pushkar Singh Dhami noted that the state now hosts over 1,300 DPIIT-recognized startups. To support this growth, the state has established a ₹200 crore Uttarakhand Venture Fund, which operates through SEBI-registered Alternative Investment Funds to provide early-stage capital and connect entrepreneurs with investors.