Podcast | Digging Deeper: The Startup Scene in India, and What 2019 Has in Store

2018 was a good year for startups in India. Last year’s themes were consumerism and digital adoption. The average age of startup founders in India is 28 years, and more than 9 percent of founders are women. It is estimated that India’s GDP could double in the next decade.

Some analysts and industry experts claim there is an increasing trend of contribution of domestic consumption towards GDP with urban and rural aspirations and behaviours blurring. Indians are now willing to spend on goods and services that assist them in their work, improve their education or take them up the value scale.

Further, with approximately 59 percent of our population expected to have internet access by 2021, the government push towards digital initiatives and the increasing affordability of smartphones, is expected to continue in rural as well as urban areas. With 500 million users, India could become a market where innovations are tested.

Media reports estimated that Bengaluru stood first in deal value and volume for start-ups, followed by Delhi-NCR. Mumbai placed third in the ranking both in terms of value and volume. Chennai and Pune rounded off the top five in terms of volume.

Another interesting statistic is that 40 percent of startups are begun in tier two and tier three cities. The year 2018 or the startup scene, and what 2019 holds for modern entrepreneurs are the topics of our discussion as we dig deeper into modern Indian Silicon Valleys with me Rakesh Sharma on Digging Deeper with Moneycontrol.