Monday, October 14, 2024 | New Delhi
A truly engaging session at the #USISPFIndiaSummit2024 titled “India’s Startup Revolution: Catalyzing Cross-Border Collaboration and Innovation” discussed India’s unparalleled momentum in the startup ecosystem.
Moderated by Ms. Shereen Bhan, who referred to the past five years as a turning point for India’s unicorns and IPOs. The panel included Shri S Krishnan, Secretary, Ministry of Electronics and IT; Mr. John Chambers, Chairman of the US-India Strategic Partnership Forum; Mr. Paavan Nanda, Co-Founder of WinZO; and Mr. Bipul Sinha, CEO and Co-Founder of Rubrik.
The discussion started with Mr. John T Chambers, who shared his optimism about India’s growth story. He noted that India’s startup ecosystem had fast-tracked innovation with the Startup India Mission at its center. Indian entrepreneurs are increasingly export-ready, and the strong domestic demand has attracted significant global investment.
Technology was at the core of the discussion, with Shri S. Krishnan emphasizing its ability to overlay across sectors, from manufacturing to service delivery. He highlighted the shift in how governments are placing larger bets on disruptive tech and startups, making innovation a key element of growth.
Mr. Bipul Sinha spoke about how startups have moved from working in silos to going public. He pointed out that as AI transforms B2B businesses over the next 10-20 years, India is well-positioned to capitalize on these massive opportunities.
The focus then shifted on the triad of micro-elements that have accelerated the startup ecosystem’s growth: smartphones, affordable internet data, and UPI. Where Mr.Paavan Nanda said this combination has sparked ‘true innovation’ in niche sectors like gaming.
Shri S. Krishnan also touched on the evolving regulatory and policy landscape, explaining that reform is a continuous process. He mentioned ongoing work in areas like tax reforms, labor reforms, and the harmonization of standards, emphasizing the need for Indian interests to be reflected in global standards.
The session wrapped up with a look to the future, recognizing the role cross-border collaboration and co-creation as technology, and government initiatives will continue to play in India’s thriving startup landscape.