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

India Dominates Global Digital Banking List

Indian banks have observed the most notable gains in day-to-day banking (+9.8 pp) and expanding relationships (+3.4 pp)….reports Asian Lite News As many as 9 Indian banks have been recognised as ‘Digital

India Tops Global Growth Charts Again

India Retains Top Spot as Fastest-Growing Economy, Only Major Nation to Exceed 6%…reports Asian Lite News India remains the world’s fastest-growing major economy and the only nation projected to achieve over 6%
Go toTop

Don't Miss

Forbes unveils Middle East’s Top 30 Banks 

For the second consecutive year, Qatar’s QNB Group tops the

Deposits at four biggest banks fall by £80bn

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