More startups working to make India their domicile

Although the process is a time-consuming and expensive one, many more startups are readying to return to India. After PhonePe, Groww and Pinelabs, online shopping platform Meesho, quick commerce firm Zepto, B2B trade platform Udaan and digital payments firm Razorpay have started work to shift their domicile to India. Of these, Razorpay is in the most advanced stage.

Flipping is essentially a move by a company, which is domiciled outside India, to shift its base back to the country. Analysts and venture capitalists say the ride back home is not an easy one.