Browse by year:

Startups in India Are More Nimble For the Global Market

Karma Bhutia, Founder & CEO, iShippo.com
Friday, October 7, 2016
Karma Bhutia, Founder & CEO, iShippo.com
With a vision to support local artisans, weavers, clusters, and village communities, iShippo serves as an e-Commerce platform that enables people from across the world to buy, sell and interact with each other.

India has more than 3100 startups per year standing just behind U.S., UK and Israel, according to the NASSCOM report of 2015. If this startup growth continues in the same pace, then it is expected that Indian tech startups will generate almost 2.5 lakh jobs in the next five years. India is also said to enjoy a great demographic dividend of 1.3 billion people and by 2020, it will be home to 112 million working population falling in the age bracket of 20-24 years as compared to that of 94 million workers of China. This demographic dividend will definitely boost the startup culture in the country.

Developed economies are looking to gain from India’s huge bludgeoning middle class. In recent years, several countries have taken initiatives to link up their businesses with the Indian startups in various sectors including defense. These joint ventures bring in FDI and help boost the India’s growth.

Going global, however, has its own set of challenges. For a startup, the biggest challenge in venturing into the highly competitive global market is building a great quality product. One of the major reasons why customers shift from one product to another is simplicity & quality of user-experience.

When a startup is growing globally, you have to be ready to face new constraints. We've long heard about the challenges that multi-national corporations have to make in order to adapt to do business in India. Business models that work in other countries aren't always suited for the Indian market. Companies also learn that they need to localize their product or services for the Indian market. Today our Indian companies are starting to expand in other countries and they face the same localization problem in those countries.

Share on Twitter
Share on LinkedIn
Share on facebook