Defence Indigenisation in India, DAO to fund Scientific Research, Teaching Taxation to Founders

Sahil (@sahil071) and Siddharth (@sidbetala) hang out and discuss various ideas on this episode of Business Munchies. We're now actively sharing interesting snippets on Twitter and reels on Instagram. Follow us there to stay updated!

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Timeline
(00:00) - Introduction with two Job Announcements
(02:30) - Defence Indigenisation in India
(24:00) - DAO to fund Scientific Research
(36:00) - Teaching Taxation to Founders

Business Ideas

Defence Indigenisation in India

• Here's a link to our Notion Page with a bunch of research that we did about defence indigenisation.
• Defence manufacturing and anciallary services is a complete white ocean at the moment - there is huge growth potential for businesses that enter this market right now.
• The Indian government has done a great job over the past 20 years to shift procurement of defence from imports to domestic manufactuers and this trend is going to continue over the next decade as the government focuses even more on improving its domestic manufacturing.
• Part of this is exports, from FY17 to FY19, in just 2 years, India was able to increase its defence exports from just 1,500crores to 8,300crores. That is an insanely fast growth rate and the benchmark for FY24 is to reach 35,000crores of exports. India cannot reach these crazy numbers without some really good incentives by the government to first build a thriving domestic manufacturing base but also one that can stand against the international market. 
• There are a bunch of schemes by the Indian government to promote defence manufacturing in India. 
• MSME's also have a big part to play in this indigenisation. They can manufacture for the big PSU's like HAL, Bharat Forge and all the others. There is a lot of manufacturing capacity in India such as composites, precision manufacturing, sheet metal work, naval work and others that can be used by the armed forces.
• However, this is a complicated network to get into. You either need capital or contacts.

DAO to fund Scientific Research

• DAO's are Decentralised Autonomous Organisations that are operated based on the votes of the members who own the tokens.
• A big problem in the scientific world is the funding of research by large companies that then biases the results that come out of that.
• DAO's could be a solution that help fund scientific research without any biases.

Teaching Taxation to Founders

• Understanding taxation is critical to a founder's success, especially in the complicated tax structures of India.
• However, there are few to no courses to help teach tax at a founder level - MBA's don't teach enough and founders can't become CA's - we need something in between.
• Social Media can be great to teach stuff like this - Miss Excel makes $100,000/day by teaching excel on TikTok.