Pine Labs, Zepto, Meesho Consider "Reverse Flip" To Return To India: Report 

Meesho is trying to raise extra funds so that it can cover the additional tax payment on its return to India.
According to CrunchBase, in 2023, there was a 38 percent decline in global start-up investments from $462 billion in 2022.
According to CrunchBase, in 2023, there was a 38 percent decline in global start-up investments from $462 billion in 2022.

Start-ups are making all the possible efforts to come back to India. This is to gain from the raised valuation that is offered to technology ventures. For instance, Pine Labs, a payment platform, is trying to merge its Singapore-based holding company with its Indian operations, according to a report by the Economic Times. This will be done via a cross-border merger. 

As per the filings of the company, Pine Labs has submitted its application to both the National Company Law Tribunal (NCLT) and the regulatory authorities in Singapore. The Economic Times further highlights that e-commerce platform Zepto is also in a similar process. 

Additionally, online shopping platform Meesho is trying to raise extra funds so that it can cover the additional tax payment on its return to India. However, this ghar wapsi (homecoming) is not a new thing for Indian start-ups. 

Fintech platform Razorpay, financial service platform Groww, and e-commerce platform Udaan are some of the other platforms that are considering moving back to the country, as per a report by The Morning Context. 

While these companies are mostly registered in the US or Singapore, their operations are mostly conducted in India. One concern, however, about moving back to India has been the tax. So, these companies will be liable to pay taxes either in the markets where they are operating or in India. It will depend on the strategy that they adopt. 

Further, the tax that they have to pay will be dependent on the valuation of the company as well as a third-party audit. 

Reasons such as the global slowdown in venture funding and overall macroeconomic conditions might be the reason for this homecoming. According to CrunchBase, in 2023, there was a 38 percent decline in global start-up investments from $462 billion in 2022. 

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