‘The world needs resilience and India is in a position to lead’: 35 quotes on business trends in India

Released in 2014, StoryBites is a weekly feature of YourStory, featuring notable quotable quotes in our articles from the past week (see previous issue here). Share these 25 Gems and Ideas from the week of January 16-22 with your colleagues and networks, and check back in on the original articles for more ideas. See our special compilation of quotes related to India’s responses to the pandemic here.

See also our selection of Main appointments of 2022 in entrepreneurship, Motivation, Investments, Women Agents of Change, Social Entrepreneurs, environmental change, pandemic Resilience, digital transformation, indian Opportunities, Design, Art, failure lessons, Y storyteller

one

The conventional narrative about India that India was the cheap place for talent is now slowly and systematically being replaced by best-in-class talent. – Rajeev Chandrasekhar, Union Minister of State

New age investors are breaking the myth that “Indians are risk averse investors” and rewriting investment scenarios. – Praveen Kaushik, zero to one

The principle of equity and equitable support must not be negotiable in our pursuit of health security. – Bharati Pravin Pawar, Minister of State for Health and Family Welfare

The government needs to extend the criteria for tax relief to start-up employees to reduce the tax burden on ESOP sales. – Monish Anand, MyShubhLife

For India to truly become a $5 trillion plus economy, we need entrepreneurship of all shapes and sizes. In fact, what we need today is what Nobel Prize winner Edmund Phelps called a massive bloom. – Debleena Majumdar, Kahaniyah

The flourishing business climate in India has given NRIs reason to rejoice. – david nupur

Until India becomes a manufacturing economy, it will continue to buy goods from others as a purchasing economy. – Dharmendra Pradhan, Union Minister of Education

India is now ready to take on the global stage and move from high volume to high value products. – Mansukh Mandaviya, Union Health Minister

Designing a product in India is challenging due to the minimum order quantities. – Rebekah Sood, Kombucha Atmosphere

3

With almost half of the Indian population being under the age of 25, policies and incentives to make quality education affordable are vital. – Abhimanyu Saxena, InterviewBit

There is a massive increase in students and professionals opting for online courses, especially in Tier II and III cities. The challenge arises in the creation of a stable digital infrastructure for such cities. – Nikhil Barshikar, imarticus learning

Private credit in India is at an inflection point and we see this asset class performing in a significantly similar fashion to global markets. – Vikaas M Sachdeva, alternates for Sundaram

By investing in the remote, gray-collar workforce, India has the potential to create new jobs, generate more income for low-income households, and provide financial security for those employed in the informal economy. – Bernardo Rajesh

4

Startups and small businesses in India are showing accelerated use of technology to fuel their growth and expand the number of users and customers. They are not just doing it in India for India; they are doing in India for the world. – Sangeeta Bavi, Microsoft India

Despite the funding slowdown, some areas like SaaS and early-stage funding have remained bullish. – Amit Nawka, PwC India

With the deep penetration of digitalization, the delivery of services and products across the country has become reasonable. We expect strong growth in the technology-enabled business that will fuel new aspirations in India. – Anil Joshi, Unicorn India Ventures

Today, India’s top three payment gateways are manufactured, one in three EV scooters are on the road, and one in two food deliveries is made by SAP customers. – Sanket Deodhar, SAP

Hyderabad is now the hub of hyperscale data centers in India. – KT Rama Rao, Minister of Telangana

5

Despite the fact that so many men sport beards, there were no products available to groom them. Men had very limited options when it came to fragrances and colognes. – Rahul Anand, Ustraa

Last year, the fantasy sports industry, consisting of more than 200 companies, contributed Rs 3000 crore in media rights, sponsored teams, leagues, players and spent money on every sporting event. – Harsh Jain, dream sports

There is a need to create for India keeping in mind the specific laws of India. [gaming] context while making it legally enforceable. – Harish Chengaiah, Atypical Games

The tourism sector is projected to generate $30 billion in foreign exchange earnings, $150 billion in GDP and 15 million foreign arrivals by 2024. – Chirag Gupta Deyor Camps

7

A one-time tax of 5% on the country’s 10 richest billionaires (Rs 1.37 lakh crore) is more than 1.5 times the funds estimated by the Ministry of Health and Family Welfare (Rs 86,200 crore) and the Ministry of Ayush (Rs 3,050 crore) for the year 2022-23. – Oxfam Spain

The marginalized of the country: Dalits, Adivasis, Muslims, women and workers in the informal sector continue to suffer in a system that guarantees the survival of the richest. The poor pay disproportionately higher taxes and spend more on essential items and services than the rich. – Amitabh Behar, Oxfam India

The leakage of HNI has become very worrying because if 10,000 HNI moves to a tax-friendly jurisdiction, it will walk away with Rs 40,000-50,000 crore of consumption. And we cannot afford to have a business class leave this country. – TV Mohandas Pai, Aarin Capital

As a society, we have not evolved much. In metropolitan areas, we have open-minded parents, but in smaller cities it’s still a challenge. [to sustain talent in women’s cricket]. – Vishal Yadav, women’s cricket

To better assess women’s ability to pay, differentiated solvency assessment mechanisms should be adopted and awareness campaigns on existing schemes for women entrepreneurs should also be taken into consideration. – Deepthi Ravula, US center

8

The EV story for South Asia and similar markets needs to be contextualized and not replicated in the US and European markets. – Chinnu Senthilkumar, Exfinity

2022 was a gigantic year for electric vehicles. In 2023, electric vehicles will become mainstream. It should be noted that GoI subsidy schemes such as FAME supported this development. – Amitabh Saran, Altigreen

We also expect further investment in research and development in the country to help India become a hub for electric vehicle manufacturing. – Avinash Sharma, ElectricPe

At the current rate, Assam is likely to achieve 100% electric three-wheeler sales by 2025, being one of the first states to do so, not only in India but also globally. – Davis Report from the University of California

Small towns and cities are losing the historical perception of being difficult places to do business. – Pooja Mehta, JITO angel network

We have seen startups move to smaller cities due to lower costs of living, higher internet penetration, and the availability of semi-skilled talent. – Umesh Uttamchandani, DevX venture fund

We have seen a growing ecosystem of D2C (direct-to-consumer) start-ups in Tier II cities. – Pushkar Singh, capital of Tremis

3

India is part of the G20 Troika with Indonesia and Brazil (Current, Past and Incoming G20 Presidencies). This is the first time that the troika is made up of three emerging economies. – Lav Agarwal, Ministry of Health and Family Welfare

India has a unique opportunity to lead the life and health sciences in South Asia. – Borge Brende, World Economic Forum

India is at the heart of the Indo-Pacific region, where half of the world’s population lives and where 50% of the world’s economic growth occurs. – Philip Barton, Commonwealth and Development Office

The world needs resilience and India is in a position to take the lead, including in supply chain frameworks. – N Chandrasekaran, Tata Sons

YourStory has also published the paperback ‘Proverbs and Phrases for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).