Digital public infrastructure driving growth of Indian startups: Industry leaders

Industry leaders emphasized the pivotal role played by the growth of digital public infrastructure (DPI) in India over the past decade in fostering the expansion of startups in the country. Speaking at the annual general meeting and convention of the Federation of Indian Chambers of Commerce and Industry (FICCI), Sanjeev Bikhchandani, the Founder of Info Edge India Ltd, noted that the current state of research and development in India is significantly advanced compared to a decade ago, resulting in a surge of startup initial public offerings (IPOs) in the Delhi-NCR region.

Bikhchandani pointed out that while early-stage startups have ample funding, government support is crucial, particularly in providing potential client markets, especially in sectors like defense technology and drones, where the government serves as a primary buyer.

Ghazal Alagh, Co-founder of Mamaearth (Honasa Consumer Pvt Ltd), highlighted the evolving nature of the startup ecosystem, noting that the growing middle class in India has played a substantial role in supporting consumer-facing companies. She also commended government initiatives such as state-level incubation centers, which empower students to build their startups.

Rohit Bansal, Co-founder of Titan Capital and Ace Vector Group, emphasized the importance of creating a level playing field between public and private companies in terms of taxation to bolster the startup ecosystem in the country.

Neel Mehta, Director and Co-founder of Asteria Aerospace Ltd, identified sectors such as defense, space, artificial intelligence/machine learning, and biotech as significant beneficiaries of Deep Tech. Mehta noted the notable improvement in public awareness regarding the use of drones in India over the past decade. He highlighted the deep tech sector's contribution to new-age job creation, emphasizing that a startup's success hinges on selecting the right theme and ensuring proper execution.