New Delhi, April 4 India’s startup story remains strong and promising despite global uncertainties, top industry leaders said at the ‘Startup Mahakumbh’ event here on Friday.
Paytm founder and CEO Vijay Shekhar Sharma said the domestic startup ecosystem may feel some pressure due to recent US tariff announcements, but the impact is expected to be short-lived.
He said that while such global events can temporarily slow down funding activity, the core operations of Indian startups remain unaffected as they primarily cater to the domestic market.
"It may create a troubling business environment that puts limitations on startup funding. But Indian startups, since they are largely focused on India as a market, are not directly impacted by tariffs," he said at the event.
He acknowledged that big global developments often have a domino effect, especially on investor sentiment.
However, Sharma noted that while funding may take a hit in the short term, opportunities in the startup world remain long-term.
“Money always finds its way back,” he added, emphasising the need for Indian entrepreneurs to rethink their approach and focus on emerging areas like artificial intelligence (AI).
Commenting on the government’s support for the startup ecosystem, Sharma expressed satisfaction over Prime Minister Narendra Modi’s push to make India a global startup hub.
He said India is attracting foreign investments and is on the right track to becoming a self-reliant technology powerhouse.
WinZO Co-founder Paavan Nanda highlighted the rapid growth of India’s gaming industry.
"Indian gaming startups can play a key role in creating a soft cultural presence in global markets," he said, adding that gaming is an important part of India’s digital economy future.
"It's a massive potential if you see the current size of the gaming industry in India, domestic consumption itself is about three and a half billion dollars," Nanda added.
He stated that this will be scaling to close to $9.1 billion by 2029-30, which means that in the next five years, the sector is going to grow almost three times.
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