Synopsis
At the Startup Mahakumbh event in New Delhi, industry leaders expressed confidence in India's startup ecosystem, noting resilience against global trade tariff challenges. Key figures emphasized domestic focus and growth potential, particularly in areas like AI and gaming.Key Takeaways
- Indian startups are largely insulated from US tariffs.
- Funding might face short-term challenges, but long-term prospects remain bright.
- Emphasis on adapting strategies for emerging sectors like AI.
- Government support is crucial for fostering a startup hub.
- India's gaming industry is projected to grow significantly.
New Delhi, April 4 (NationPress) The narrative surrounding India's startups remains robust and optimistic, as noted by prominent industry figures at the 'Startup Mahakumbh' gathering here on Friday.
Vijay Shekhar Sharma, founder and CEO of Paytm, remarked that the domestic startup landscape might experience some strain due to the recent tariff announcements from the US, but the repercussions are anticipated to be temporary.
He pointed out that while such international occurrences might briefly hinder funding activities, the fundamental operations of Indian startups are largely intact since they focus predominantly on the domestic market.
“A tumultuous business climate could impose restrictions on startup funding. However, since Indian startups primarily target the Indian market, they are not directly influenced by tariffs,” he stated during the event.
Sharma recognized that significant global events can often trigger a ripple effect, particularly affecting investor sentiment.
Nevertheless, he emphasized that while there may be a decline in funding in the near term, the long-term prospects in the startup sector remain promising.
“Capital always finds its way back,” he asserted, urging Indian entrepreneurs to reassess their strategies and concentrate on emerging fields like artificial intelligence (AI).
Regarding governmental backing for the startup ecosystem, Sharma expressed his approval of Prime Minister Narendra Modi's initiative to position India as a global startup hub.
He affirmed that India is drawing foreign investments and is on the path to becoming a self-sufficient technology powerhouse.
Paavan Nanda, Co-founder of WinZO, emphasized the swift expansion of India's gaming sector.
“Indian gaming startups can significantly contribute to establishing a soft cultural presence in international markets,” he mentioned, asserting that gaming is a vital component of India's digital economy's future.
“The current valuation of the gaming industry in India is immense, with domestic consumption amounting to approximately $3.5 billion,” Nanda added.
He projected that this figure is set to soar to nearly $9.1 billion by 2029-30, indicating a potential tripling of the sector's growth within the next five years.
