In his article called Buy India, Sell China, James Gruber mentions that India reforms, economically and structurally after a crisis. “At the start of each of the last four decades, India has undergone some form of fiscal crisis. Each period led to significant reform that propelled economic growth. The cycle of reform, then growth, then complacency, then crisis leading to reform, could well repeat itself this time around. History suggests Indian governments only reform in crisis.”

What James intends to say in his own words is that India can only move forward from here on, and startups will play an integral role in the entire process. As Eric Schmidt recently stated in his original piece in TOI, “The most striking Indian internet innovations won't come from big institutions or companies moving online, however. They will come from Indians solving local problems.” Stressing on the point that necessity is the mother of innovation.

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