Export from India may be championed as the future of “Aatma Nirbhar Bharat,” but Jaineel A., founder of PlayVerse, says the ground reality for first-time exporters is riddled with red tape, regulatory chaos, and punishing scrutiny\u2014especially when things go wrong.<\/p>\n
In a LinkedIn post, Jaineel A. dismantles the glossy export narrative often projected by the government. While slogans like \u201cMade in India\u201d and \u201cdiversify exports\u201d dominate policy talk, he says the experience for new exporters is \u201ca nightmare.\u201d<\/p>\n
Jaineel outlines the bureaucratic hurdles in grim detail. Even with an Importer Exporter Code (IEC) and AD code in place, exporters must repeat extensive paperwork every time they change ports or switch between air and sea freight. \u201cThe best part?\u201d he notes sarcastically. \u201cYou have to repeat this process for each port and each mode of export.\u201d<\/p>\n
Things get worse when it comes to receiving payments. According to Jaineel, GST offsets and export subsidies require more approvals and multiple follow-ups, slowing down operations and cash flows. \u201cThere is friction while bringing funds into India,\u201d he says.<\/p>\n
But the real blow comes if the funds don\u2019t arrive at all. Jaineel recalls a painful case from 2016 when a Canadian client declared bankruptcy, leaving his firm with an $80,000 loss. Despite the client\u2019s legal liquidation in Canada, Jaineel faced a two-year ordeal with the Reserve Bank of India, struggling to explain the missing payment.<\/p>\n
\u201cYou are toast\u2026 literally,\u201d he wrote. \u201cThe torture we endured from the RBI was a nightmare in itself.\u201d<\/p>\n<\/p>\n
Jaineel criticized media and startup discourse for focusing obsessively on valuations and IPOs while ignoring everyday operational roadblocks that threaten genuine entrepreneurship. \u201cReal problems that are easily solvable with resolve get no attention,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"Export from India may be championed as the future of “Aatma Nirbhar Bharat,” but Jaineel A., founder of…\n","protected":false},"author":2,"featured_media":274951,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[64,63,99,198,159634,159629,159631,159635,159630,159633,159632],"class_list":{"0":"post-274950","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-entrepreneurship","8":"tag-au","9":"tag-australia","10":"tag-business","11":"tag-entrepreneurship","12":"tag-iec-export-issues-india","13":"tag-india-export-red-tape","14":"tag-jaineel-playverse","15":"tag-made-in-india-export-hurdles","16":"tag-piyush-goyal-linkedin","17":"tag-rbi-export-scrutiny","18":"tag-startup-export-problems"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/274950","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=274950"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/274950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/274951"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=274950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=274950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=274950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}