Indian Startups To Lead The World Soon?
The Indian startup ecosystem continues to gain traction worldwide. Over the days, it has gained the likes of countries like USA, UK, Singapore, China, Japan, UAE, and others in the investment domain. As per a leading India-centric US advocacy group, Indian startups have entered a phase, where they are successfully building products for the world, thus raising money from the west.
Mukesh Aghi, President of US-India Strategic and Partnership Forum (USISPF) said that the startup scene in India is entering a third phase where Indians are building products for the world.
Talking about the Indian IT industry, Mukesh said that the industry then was focussed more on coding, and was more labour intensive. Looking ahead, it filled a vacuum which was very well needed. The second phase involved Indian companies that have surpassed the concepts invented in the US like Uber, Ola, Amazon and Flipkart.
What happens in the third phase is that product companies have been coming up with building new products not only for India, but also for the world. The products may vary from voice recognition, cybersecurity, to healthcare. Some of these were incubated in India like the ‘T hub’ in Hyderabad.
In the recent times, there have been many promising companies, who have generated Series C and Series D funding, that are mostly coming from the US.
Mukesh further talked about Zoho, a Chennai-based company, is being used for sales and marketing. Zoho people are adding almost a couple thousands of customers a year in the US, thus giving other CRM platforms a run for money. There are quite a few other companies in the same area that are moving ahead and getting market share.
The Indian startup ecosystem is gaining traction across international borders. This is indeed commendable on the part of Indian entrepreneurs. TheStartupz.com talked to a Silicon Valley-based entrepreneur who said that Indians constitute a major population in the Valley. This is indeed good news for the Indian entrepreneurs, and also for the Indian startup sphere.
If things continue this way, we might soon acquire the leading position in the world.