December 10, 2023
1 min read

Government Policies Bolster Public Sector Banks

Ghazal Alagh, Co-founder of Mamaearth (Honasa Consumer Pvt Ltd), said that the startup ecosystem is evolving in favour of entrepreneurship…reports Asian Lite News

The development of digital public infrastructure (DPI) in India in the last decade has steered the growth of startups in the country, industry leaders said on Saturday.

Addressing FICCI’s annual general meeting and annual convention Sanjeev Bikhchandani, Founder of Info Edge India Ltd, said that research and development in India is currently in a better position than it was a decade ago, which has spurred a cluster of startup IPOs in the Delhi-NCR region.

“While there is no shortage of funding for early-stage startups, support from the government in providing potential client markets in sectors like defence-tech, drones are, however, pertinent since government is the main buyer,” he told the gathering.

Ghazal Alagh, Co-founder of Mamaearth (Honasa Consumer Pvt Ltd), said that the startup ecosystem is evolving in favour of entrepreneurship.

“The rising middle class in India has been a large enabler for consumer facing companies. State-level incubation centres, setup by the government, are a remarkable step to empower students to build their startup,” she said.

According to Rohit Bansal, Co-founder, Titan Capital and Ace Vector Group, measures such as providing a level-playing field between public and private companies in terms of taxation are essential to boost the startup ecosystem in the country.

Neel Mehta, Director and Co-founder, Asteria Aerospace Ltd, said that sectors such as defence, space, AI/ML and biotech, among others, are key beneficiaries of Deep Tech.

“Public awareness with reference to the use of drones has improved significantly in India over the last decade. The deeptech sector had also seen new-age job creation, and building on the right theme and ensuring proper execution can be the key for a startup’s success,” he noted.

ALSO READ-Over 100 Climate Tech Startups Showcase at COP28

Previous Story

Digital Public Infrastructure Fuels Decade of Startup Growth in India

Next Story

Liverpool Tops Premier League Table with Salah’s 150th Goal

Latest from Business

RBI Holds Rates, Boosts Outlook

One of the most significant announcements was the upward revision of India’s GDP growth forecast for FY 2025–26—from 6.5% to 6.8% In a move reflecting cautious optimism, the Reserve Bank of India

Nykaa Expands Global Footprint with UK Debut

To commemorate this significant global debut, Nykaa’s leadership hosted an exclusive soiree at the George Club in Mayfair, London Nykaa, India’s leading beauty and lifestyle destination, is set to make a grand

Nothing’s CMF Goes Indian with $100M JV

Company has announced a $100 million joint venture with Indian electronics manufacturer Optiemus Infracom Limited….reports Asian Lite News Smartphone maker Nothing has spun off its budget sub-brand CMF into an independent subsidiary,

Airbnb Boosts India Economy

Among international guests, the largest inbound sources were the United States, United Kingdom, Canada, and Australia Hospitality giant Airbnb made a significant impact on India’s economy in 2024, contributing Rs 113 billion

Rupee, Markets Gain Amid Trade Optimism

Emerging market currencies, including the rupee, have gained support amid softening in the dollar. Reports suggesting that the US economy is on the verge of a recession have contributed to the greenback’s
Go toTop

Don't Miss

Deposits at four biggest banks fall by £80bn

NatWest, Lloyds, HSBC and Barclays experienced total outflows of about

Banks write off Rs 10L cr in last 5 financial years

Gitanjali Gems topped the list of 25 wilful defaulters followed