Time to embrace modern tech for India’s inclusive growth: Startup founders

New Delhi, Oct 11
India has the golden opportunity to embrace technology as a great enabler and multiplier, driving India’s inclusive growth, industry experts and startup founders have stressed.

The startup ecosystem will generate more employment and there is a need to strengthen the policy ecosystem further, according to Sunil Kant Munjal, Chairman, Hero Enterprises.

“This is the phenomenal time to embrace the opportunity to turn the youth to valuable resources and embrace technology as a great enabler and multiplier,” he said during a PHDCCI event in the national capital.

Sanjeev Bikhchandani, Founder and Executive Vice Chairman, Info Edge (India) Ltd, emphasised that key factors driving India towards Viksit Bharat at 2047 include further reduction in regulatory compliances and increasing availability of capital, thereby nudging the forces in the right direction.

Speaking during a fireside session, Varun Alagh, Co-founder and CEO, Mamaearth (Honasa Consumers Pvt Ltd) said that there is a large scope of safe healthcare products in India.

He expressed bullish sentiments for the personal care industry in India, adding that “women-driven workforce and strengthening research and development should be focussed in the coming times”.

According to Ishpreet Singh Gandhi, Founder and Managing Partner, Stride Ventures, last-mile financing is important and large capital is flowing to India under climate technology.

“New-age businesses and startups are performing well in India,” he said.

The PHDCCI Economic Monitor has highlighted India's sustained economic resilience in recent years, with GDP growth averaging over 8 per cent in the last three fiscal years.

Key indicators such as a significant drop in CPI inflation, steady growth in industrial production (IIP), core infrastructure, exports, and financial markets underpin India's robust macroeconomic health.

Moreover, India's pivotal role in driving global economic growth is becoming increasingly evident, positioning the country as a powerhouse in the global economic system.