With over 700 million internet users in the country and around 0.5 billion people coming online, India’s digital economy currently sits on a wealth of opportunity.
The COVID pandemic has accelerated the pace of digital adoption and new age businesses are looking for a chance to seize this opportunity.
India is second behind the United States for building new unicorns this year – we added 33 unicorns in 2021, positioning us as a successful startup.
Change in the economy is driven by technology companies bringing innovative products and solutions to market. What fundamentally differentiates these billion dollar companies from the rest is how they harness technology to disrupt the customer experience.
In an interview with CNBC-TV18, said Sanjeev Bikhchandani, co-founder of Info Edge, startup founders should focus on the underlying, focus on customer satisfaction, focus on real revenue, real margins and real fundamentals.
“Startup founders need to focus on the fundamentals of what makes business sense and come up with a plan B just in case the cash runs out. $ 4 trillion or whatever has been pumped into the global economy, that amount of money is unprecedented and it makes everyone feel good and look smart. So, the founders of startups should focus on the underlying, focus on customer satisfaction, focus on real revenues, real margins and real fundamentals and the rest of the market will decide, ”he said. he declares.
Rajat Verma, Managing Director and Head of Commercial Banking at HSBC India, said: “Liquidity is not going away anytime soon and India will continue to be a very attractive market. While equity is very readily available today with cash but other forms of capital are also coming in. The banks have therefore started to take a closer look at the equity capital coming in. Banks like ours have created funds specifically for new age businesses. In India, we have created a fund of about $ 125 million and we have done so in several other countries. So, one of the perhaps unintended benefits of this bull run is that traditional financial institutions like banks have also started to view the startup space in a very different way. “
Watch the video to learn more.