Falguni Nayar, Founder, CEO & Executive Chairperson at Nykaa underscored the illuminated path for entrepreneurship in Indian ecosystem at the event of Startup Mahakumbh.

Nayar says that, as a fifth largest economy in the world, India is observing an extraordinary rush in the entrepreneurial landscape. She emphasized that India ranks as the third largest ecosystem for startup worldwide with more than 1 lakh startups which are generating creative solutions to cater the real time problems.

Nayar underlines, “The Indian economy is a canvas of boundless opportunities, and the startup world is its vibrant palette, painting the landscape with bold strokes of creativity and ingenuity. We are witnessing an unprecedented surge in entrepreneurial activity, fueled by a generation of dreamers and doers who dare to challenge the status quo.”

Further Nayar highlighted, “Of the new D2C brands over the last few years, 44% have emerged in fashion and beauty. Having seen dozens of these brands grow on our platform over the last decade, Nykaa takes immense pride in being a multi-brand platform that creates a conducive environment for brands to grow”.

Nayar mentioned, “By means of the developing consumer models, performances & preferences, the Indian D2C brands seize the benefit of being very quick-to-market & easily stick with the evolving consumer trends”.

She added, “Nykaa Fashion’s current per capita spend is $130 vs the average fashion per capita spend of $54. We are slowly seeing consumer behavior shift toward this expectation. After electronics, fashion is the second largest category purchased online”.

Nayar recommended that by 2027, the key sectors including fashion, groceries & general merchandise will include two-thirds of the e-commerce market.

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