Akshat Shrivastava on LinkedIn: It is not easy to make money in India for a wide range of reasons. Most… | 143 comments (2024)

Spot on with the original post, but here's the real kicker: high taxes are choking the life out of our brave new entrepreneurs and startups. Where's the support for the underdog, the bootstrapped startup that could be the next big thing if only the tax burden didn't feel like a mountain on its back?What if we eased the tax noose? Imagine the unleashed potential of startups thriving in a fairer tax landscape. It's time to turn the tables. Let's ignite a debate on this – are we taxing our way to stagnation? Let's demand a change, not just for the entrepreneurs but for the future of the Indian economy. 💸🚀 #TaxReform #Startup #India #economy2023

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It is not easy to make money in India for a wide range of reasons. Most of the businesses are getting monopolized. As the Indian Economy moves from being (mostly informal) to getting formalized, a handful of businesses, would benefit the most. It is excruciatingly hard to start D2C businesses without funding. And, if you somehow bootstrap a business, you will still be crushed through high taxes. One of the simplest ways that the middle class people have made money in the past was to: study hard, get a good job, save and make money. Getting training on the job. And, being paid for it was the least risky & the most sensible path. This is the reason why our previous generation was fascinated with the West. Not because they could start a business there. But, because many normal India kids could study hard. And, aspire to work abroad (and in the process get rich). Like it or not, to win in a business, you need some kind of unfair advantage (in most cases). This is getting more and more prominent by the day. And, most middle class folks don't have this. For them, the roadmap to get rich: still remains-- work hard, get good grades, get a scholarship, get a good job, work for a few years abroad, build wealth.

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I have at times been part of congregations where entrepreneurs boast of being 'self made'.Yes, it makes up for a great story - Disney would surely be interested in it. But what they often downplay is the privilege that helped them build it. And this is very detrimental to the young, often naive but enthusiastic audience who lap up the stories, get inspired and start up on their own but then face immense struggles leading themselves to lose confidence in their own abilities. No one tells them that they were lucky. No one tells them that they had privilege.One needs either of the following: Great connections (often influential parents or relatives), A unique ability or skill or creation, A good amount of privilege to get into the right doors or opportunities or sustain the business, Rich work experience and thereby domain expertise and insights or combinations of the above to succeed as an entrepreneur. Luck is a very essential ingredient beyond all of these. No wonder then, that most successful first time entrepreneurs are ones who start after their mid 30s. They have had enough experience and a strong vantage point that helps them figure out the market need and maturity to handle ups and downs. To all young people aspiring to be entrepreneurs, it is absolutely essential to introspect and take stock of the above points and not blindly believe charlatans who boast of a fictitious success. Of course there are exceptions but they are exceptions for a reason. Start when it is right. Not because you feel like. This is a good post that one must go through. Disclaimer: I agree only with this view of the original poster and not all.

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Akshat Shrivastava The challenges outlined in your observations are indeed significant and reflect the realities faced by many individuals in India. The lack of high-paying jobs, barriers to starting a business, and the lengthy process of building wealth through traditional investing channels can feel discouraging for many.The traditional path to financial success, as you mentioned, often involves hard work, academic achievement, and seeking opportunities abroad. While this path has been successful for many, it's important to recognize that it may not be accessible to everyone, particularly those without access to quality education or the means to pursue opportunities abroad.Ultimately, while the road to financial success may be challenging, it's important to remain resilient, adaptable, and open to exploring new possibilities. By embracing innovation, seizing opportunities, and supporting one another, we can work towards creating a more equitable and prosperous future for all.

It is not easy to make money in India. We lack high paying jobs. Starting a business is not easy. And, building wealth through investing takes decades. On top of this there is a big trend underway:- Most of the businesses are getting monopolised. As the Indian Economy moves from being (mostly informal) to getting formalised, a handful of businesses, would benefit the most.It is excruciatingly hard to start D2C businesses without funding. And, if you somehow bootstrap a business, you will still be crushed through high taxes.One of the simplest ways that the middle class people have made money in the past was to: study hard, get a good job, save and make money.Getting training on the job. And, being paid for it was the least risky & the most sensible path.This is the reason why our previous generation was fascinated with the West.Not because they could start a business there. But, because many normal India kids could study hard. And, aspire to work abroad (and in the process get rich).Like it or not, to win in a business, you need some kind of unfair advantage (in most cases). This is getting more and more prominent by the day.And, most middle class folks don't have this.For them, the roadmap to get rich: still remains-- work hard, get good grades, get a scholarship, get a good job, work for a few years abroad, build wealth.Acknowledgments: Akshat Shrivastava

Misconceptions around doing business in India.As a Chartered Accountant when I have been speaking to people from foreign lands, I have often found there are some misconceptions on the business environment in India.India is not just a country, but a world in itself. It is one of the fastest growing and most dynamic economies in the world, with a huge market potential and a talented workforce.India offers immense opportunities for business, but it also presents unique challenges that require careful planning and adaptation.One needs to understand the diversity and complexity of this market and avoid some of the common misconceptions that can hinder success.Misconception: India is a hom*ogeneous market.Reality: India is a vast and varied country, with 28 states and 8 union territories, each with its own language, culture, laws, and regulations. Doing business in one state may not be the same as doing business in another. You need to understand the regional differences and tailor your strategy accordingly.Misconception: India is a low-cost destination. Reality: India may offer lower labor costs than some other countries, but it also has higher costs in other areas, such as infrastructure, logistics, taxes, and compliance. You need to factor in these costs and plan your budget accordingly.Misconception: India is only good for IT outsourcingReality: While India is a global leader in information technology and software services, it also has a strong presence and potential in other sectors such as telecommunications, pharmaceuticals, textiles, engineering, biotechnology, automotive, and renewable energy. India has become a hub for innovation and entrepreneurship, with a vibrant startup ecosystem and a large pool of talent. Misconception: Complex BureaucracyReality: While India does have administrative processes, recent reforms have significantly streamlined procedures. Initiatives like "Make in India" and "Ease of Doing Business" have simplified regulations and enhanced the business environment.I believe, India offers many opportunities for those who are willing to learn and embrace its diversity.what do you think?Let me know in the comments.#misconceptions #business

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100,000 INR per month is the dream income for 98% of the IndiansThis makes people look out for moving abroad and earning in Dollars.How much is that? - $1500 only (and this keeps you away from your family and loved ones)So, if you are someone1. Who is an expert in your vertical2. Spent 4-8 years or above in the corporate world.3. Having a CTC between 8 lakhs to 50 lakhs per annum.4. You already know this may not go any far for you in the corporate world.What If you can earn 200,000 - 500,000 INR/month in India itself and build your lifestyle the way you want?PS: It is not easy, it is doable. It takes 12-18 months (also depending on your speed of execution)I am super confident about the process that can make it happen now after testing it on over 50+ professionals. (check the picture for social proof)Say, YES in the comments if you wish to apply for my next Cohort. We will do it together.I don't give this to everyone, You will be taken through a process to find out if you are an action-taker or not.#freelance #money #growth #success

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🚀𝗧𝗼𝗽 𝟱 𝗦𝘁𝗲𝗽𝘀 𝗜𝗻𝗱𝗶𝗮 𝗡𝗲𝗲𝗱𝘀 𝘁𝗼 𝗕𝗲 𝗡𝘂𝗺𝗯𝗲𝗿 𝗢𝗻𝗲 𝗶𝗻 𝗪𝗼𝗿𝗹𝗱 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗗𝗶𝗿𝗲𝗰𝘁𝗼𝗿𝘆India is a rapidly growing economy with a young and talented population. It is already home to some of the world's largest and most successful businesses. However, there is still more that can be done to make India a truly global business hub.𝘏𝘦𝘳𝘦 𝘢𝘳𝘦 𝘧𝘪𝘷𝘦 𝘴𝘵𝘦𝘱𝘴 𝘵𝘩𝘢𝘵 𝘐𝘯𝘥𝘪𝘢 𝘯𝘦𝘦𝘥𝘴 𝘵𝘰 𝘵𝘢𝘬𝘦 𝘵𝘰 𝘣𝘦𝘤𝘰𝘮𝘦 𝘯𝘶𝘮𝘣𝘦𝘳 𝘰𝘯𝘦 𝘪𝘯 𝘵𝘩𝘦 𝘸𝘰𝘳𝘭𝘥 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘥𝘪𝘳𝘦𝘤𝘵𝘰𝘳𝘺:𝗜𝗺𝗽𝗿𝗼𝘃𝗲 𝗶𝗻𝗳𝗿𝗮𝘀𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲India's infrastructure is still lagging behind that of many other developed countries. This can make it difficult and expensive to do business in India. The government needs to invest heavily in improving roads, railways, airports, and other infrastructure.𝗥𝗲𝗱𝘂𝗰𝗲 𝗯𝘂𝗿𝗲𝗮𝘂𝗰𝗿𝗮𝗰𝘆India's system is known for being hard to understand and not working well. This can be a big problem for companies in the United States and other countries. It's time for the government to cut down on red tape and make it easy for businesses to run.𝗖𝗿𝗲𝗮𝘁𝗲 𝗮 𝗺𝗼𝗿𝗲 𝗳𝗮𝘃𝗼𝗿𝗮𝗯𝗹𝗲 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗲𝗻𝘃𝗶𝗿𝗼𝗻𝗺𝗲𝗻𝘁The Indian government needs to make the country a better place for businesses to operate. This means lowering taxes, making rules easier to understand, and giving businesses reasons to spend and hire people.𝗜𝗻𝘃𝗲𝘀𝘁 𝗶𝗻 𝗲𝗱𝘂𝗰𝗮𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝘀𝗸𝗶𝗹𝗹𝘀 𝗱𝗲𝘃𝗲𝗹𝗼𝗽𝗺𝗲𝗻𝘁India has a lot of young people, but a lot of them don't have the education or skills to compete in the global market. To make sure that the workforce is ready for the future, the government needs to put money into schooling and skill building.𝗣𝗿𝗼𝗺𝗼𝘁𝗲 𝗶𝗻𝗻𝗼𝘃𝗮𝘁𝗶𝗼𝗻India needs to foster a culture of innovation and entrepreneurship. The government can do this by providing financial support to startups and creating an environment where new ideas can flourish.By taking these steps, India can become a global business hub and attract investment from all over the world. This will create jobs, boost the economy, and improve the lives of millions of Indians.𝗪𝗵𝗮𝘁 𝗮𝗿𝗲 𝘆𝗼𝘂𝗿 𝘃𝗶𝗲𝘄𝘀?#India #Business #Economy #Growth #DevelopmentPic Courtesy: My Replubica

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#WhatImSeeing Are foreign companies guaranteed to succeed in India 🇮🇳? The clear answer is no! India is not the easiest market in the world and there are plenty of foreign ventures that have proved to be disastrous failures. This article in The Economist lists out a few reasons for success and failure in India, also pointing to a worrying sluggishness in new Foreign Direct Investment into India. However I think the real key 🔑 to success in a complex and challenging market like India is very simple - patience and perseverance. 🙏🏼 We take our time, but always deliver in the end! Foreign companies should not expect quick and easy returns and get misled by the size of our 1.4billion person market. Making it in India takes time and effort, as well as local knowledge, often embodied in the right partner 😉! #India #Packaging #Investment #MakeinIndia #FDIHow to succeed—and fail—as a foreign business in Indiahttps://lnkd.in/dYdQMtJFfrom TheEconomist

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Such a simple and zen view!!!

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