Startups get up to 10 years for converting debt investment into equity

Offering a major relief to budding entrepreneurs, the government has extended the timeline to up to 10 years for startups converting their debt investments into equity shares. According to a press note of the Department for Promotion of Industry and Internal Trade (DPIIT), it has reviewed the extent of FDI policy in India and announced various amendments, among the key notable modifications is for startups.