According to Amitabh Kant, chief executive officer (CEO), NITI Aayog, the digital revolution in India has infused new energy into the startup ecosystem and initial public offerings (IPOs) will propel that revolution.
Speaking at an event organised by Innovation Venturing and Entrepreneurship in India Network (iVEIN), Kant said India has emerged as the second-fastest economy in digitisation among 17 economies.
Kant noted that in a large and diverse country like India, the ability to scale up and implement programs to reach 1.3 billion citizens in vernacular languages is crucial. Further, he argued that e-commerce creates business opportunities when it intersects with the internet.
Kant also noted that failure is a necessary part of the startup movement, and every parent and investor in India must be aware of it.
In his view, nowhere in the world could startups get the size and scale of data they get in India.