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#News(Startup) [ via IoTForIndiaGroup ]
Ashish Gurnani and Aashray Thatai, cofunders of Postfold, a New Delhi-based online men’s apparel startup, are on a tear. The business they founded a little over two years ago is seeing its customer base grow 20% every month. They are preparing to extend the brand beyond apparel and into accessories. For the duo — college mates, cofounders and soon to be brothers-in-law (Gurnani is marrying Thatai’s sister) — business was going swimmingly.
However, like dozens of other young startups, they’re not just worried about managing warp-speed growth. Instead, they’re spending inordinate amounts of time keeping pace with a rapidly changing regulatory landscape. All of a sudden, companies and small startups that have been trying to carve our small niches are finding themselves caught up in a confounding maze of proposed laws and regulations.
While large sectors such as ecommerce are worried about provisions in a draft law, other entrepreneurs ranging from cryptocurrency to online pharma are concerned that a wave of legislation — some implemented and others at various stages of consideration — will trip up India’s ascendant startup scene. “It is certainly important for governments and regulators to walk the fine line between regulating effectively and being regressive in policy,” says Priyanka Roy, founder of Sarqua Law in Mumbai.
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