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Indian startups to scale faster in coming years- panelists at India Global Week

Private equity industry expert panelists at the India Global Week 2020 talk about the startup ecosystem and its rise to the t
Private equity industry expert panelists at the India Global Week 2020 talk about the startup ecosystem and its rise to the top in the coming years.

The startup ecosystem in our country has expanded at a rapid pace since the startup wave that started back in 2014. According to private equity industry executives, the coming years might see a rise in scaling up of such startups with more unicorns emerging from the Indian ecosystem.

It was reported that Rajan Anandan, Managing Director at Sequoia Capital India, remarked that the startup ecosystem had witnessed a large growth in terms of both the no. of startups emerging, as well as the rise in investment and emerging unicorns.

Anandan, while speaking at the India Global Week 2020 (1), stated that many such factors has led to an extremely vibrant early-stage venture ecosystem. He added that five years from now, they expected to go from 30 to 100 unicorns, and by 2030, the entire startup ecosystem would witness ten times growth.

Startups need more ‘surgical approach’

Advisor at Venture Highway and a former Google executive, Shailesh Rao, noted that Indian startups would need to think about scaling their venture as India is already considered a ‘natural leader of emerging markets’ would serve as a great opportunity for them.

Rao added that startups would need more ‘surgical approach’ or in-depth research-oriented approach to markets.

The India Global Week2020 is a three-day virtual conference organized by India Inc in London, UK that whose inaugural session was addressed by Prime Minister Narendra Modi. This year the theme of India Global Week was ‘Be The Revival: India and a Better New World’, and the main objective for the conference served as a chance to explore business, strategic and cultural opportunities. It also aims to understand the challenges and make informed decisions as the world looks ahead to a better & brighter future beyond Covid-19.

The panel was asked about the industry or area that was expected to grow faster, the response leaned towards startups that focused on areas like enterprise software and health-tech.

Nikhil Srivastava, PAG Asia Capital Managing Director & Head of India Private Equity, said that multiple factors would continue to position our country India as a magnetic destination for foreign investors.

Srivastava added, “Investors are focused on political stability, the current government has pushed through important economic reforms and continues to do so. Secondly, India is the third-largest economy in the world in terms of purchasing power parity, so it’s a pretty large addressable, and the third point is young demographics with a large middle class and spending power.”