'Indian startup ecosystem on par with global standards'

February 27, 2024

New Delhi, Feb 27 (IANS) The startup landscape in India is now on par with global standards, witnessing a shift where startups have become more mainstream, industry leaders said on Tuesday.

Addressing the India Digital Summit (IDS) 2024, Hitesh Oberoi, Co-Promoter, Managing Director & CEO of Naukri, said, “There’s a notable rise in the quality of startups and their founders, with a shift from skepticism to a widespread eagerness to collaborate with startups.”

“Deep tech startups, particularly those leveraging fundamental technologies for innovation, show great promise for the future,” he added.

IDS is being organised by IAMAI in partnership with the Ministry of Electronics and Information Technology (MeitY), the Ministry of Information and Broadcasting (MIB), the Ministry of Tourism, UIDAI, the Indian Cybercrime Coordination Centre (I4C), Government eMarketplace, In-Space and Skill India Digital.

Oberai also mentioned that the ‘Info Edge’ underwent a transformative shift in the 2010-2015 era, anticipating the rise of mobile phones as a central platform.

“Recognising the importance of adapting to this shift, we reimagined our user experience for mobile, facing challenges in hiring designers and Android developers trained in web development. Today, 70 to 90 per cent of our business thrives on the mobile platform,” he said.

Oberoi concluded by advising newer startups and entrepreneurs that generating revenue from customers is vital, instead of relying solely on investors.


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