India's vision on start-ups: views of Siddharth Mehta, CIO of Bay Capital

India is a land of opportunities, with one of the fastest-growing economies in the world, India has witnessed tremendous growth in recent years. Start-ups and entrepreneurship have witnessed positive growth with the collaborative approach or the amalgamation of government initiatives. 

 

Siddharth Mehta IL&FS former director and currently the CIO of Bay Capital believes that start-ups have a tremendous scope in India. Speaking to a renowned media house he said, “Looking at the trend of start-ups or fintech which has created a boom in the market, India has witnessed a strategic and profitability growth of start-ups.” Siddharth Mehta Bay capital believes that India has all the necessary factors or element that is suitable for any start-up leading to long-term growth and prosperity. 

 

India is also known as the cultural and population hub of Asia, which offers a kind of ecosystem and native talent which is favorable for start-ups preferably fintech based on the recent trend in finance. 

 

According to the reports, the amount of VC (Venture Capital) funding in India has increased from $20.5 billion to $24.1 billion in 2022, which is a positive sign for the economy. At the moment India has more than 100 unicorns. 

 

The government through its initiatives such as Start-up India, Parent filing, Make in India and many other initiatives is promoting start-ups and entrepreneurship. Start-up India mainly provides easy compliance, funding support, and tax exemptions to young entrepreneurs. The tax exemptions are given for the first 3 years, which the entrepreneurs can utilize in reinvesting in their business. Parent filing offers easy paperwork for entrepreneurs, reducing the extra cost of filing. Make in India is aimed to encourage entrepreneurship in the country and businesses to manufacture in India. 

 

Since India is home to large numbers of software engineers and developers which is ultimately leading to the boom in the software industry, that primarily focused on start-ups such as AI, ML, blockchain, Flipkart, Ola and Paytm, and many more. 

 

Otherwhere these start-ups that are making a mark are e-commerce, Swiggy, Amazon, Flipkart, etc. Healthcare start-ups include Practo, 1mg, Medlife, etc. Byjus and Unacademy are the edtech start-ups in India. Clean energy start-ups include Ola Electric, ReNewpower, etc. Like these, there are many start-ups in India. 

 

In conclusion, we can say that India has got a tremendous scope for start-ups. The start-ups in India are supported by government initiatives which have led young entrepreneurs to lead the foundation. The population and penetration of smartphones and the internet in India have paved a base for start-ups with growing digitization. 

Comments

Post a Comment

Popular posts from this blog

"People are going Cashless" unveil the effect of Digitalization in India

Image
  The COVID-19 epidemic has caused disruptions in economies all around the world. However, these difficulties provide businesses a chance to prosper by adjusting to a new reality, going contact less, and going digital. Digitalization now has a new meaning and will continue to have an impact on more industries. As Siddharth Mehta IL&FS says, “Now is a great time to focus on digital transformation by acknowledging its requirements while the globe considers methods to lessen the disruption caused to mankind”. Digitalization fueled up the businesses to go online and they start their online profile and some of the businesses created applications to give their customer easy access and connectivity. The aftermath of this action really aids digitalization. People of almost every age group started using Mobile Apps to purchase almost everything and payment digitally through the UPI ID. These UPI ID is another example of successful implementation of Digital India during the COVID-...
Read more

Siddharth Mehta IL&FS former director views on the growth of the trade finance industry

The rise of the trade finance industry in India has been remarkable in recent years. Trade finance refers to the financing of international trade transactions, such as importing and exporting goods and services. According to Siddharth Mehta IL&FS former director the growth of the trade finance industry in India can be attributed to several factors. First and foremost, India has emerged as a major player in global trade, with exports and imports growing rapidly in recent years. As a result, there is a growing demand for trade finance services to support these transactions. Secondly, the Indian government has taken several steps to promote international trade, including launching initiatives such as Make in India and Digital India. These initiatives have helped to boost the country's export capabilities and have created a favorable environment for the growth of the trade finance industry. Thirdly, the adoption of technology has played a significant role in the growth of the trad...
Read more