Indian Startup Ecosystem is mature, Set to Bolster Economy: AWS India Head By CIOTechOutlook Team

Indian Startup Ecosystem is mature, Set to Bolster Economy: AWS India Head

CIOTechOutlook Team | Monday, 27 May 2024, 02:37 IST

The indian startup environment is mature, with various tailwinds primed to propel India to become the world's third largest economy, according to Kumara Raghavan of AWS. Raghavan, Head of Startups at Amazon Web Services (AWS) India and South Asia, spoke with PTI about the flourishing Indian startup sector, highlighting its strength and innovation potential.

"We are the 5th largest economy, we are trending towards becoming the 3rd largest... factors that will contribute to it are labor addition, infrastructure growth, and efficiency improvements, where technologies like GenAI will play their part, a large developer ecosystem, the ability to build products in the country and serviced all over the world, then there are regulatory tailwinds as well," he said.

Raghavan praised the maturity of the Indian startup ecosystem, highlighting the substantial contributions of seasoned founders who have launched many entrepreneurial companies. "We're the world's third largest startup ecosystem. "And there are a couple of tailwinds in our favor," he remarked.

He credited numerous elements with fueling India's emergence as a startup ecosystem.

"Over the last decade, we have seen founders launch multiple startups over the last 7-8 years," he said, adding that this wealth of experience has not only accelerated the lifecycle of startups but has also enhanced their chances of success.

He noted that India's robust developer environment has reinforced the startup industry, giving it a competitive advantage and cultivating an innovative culture.

"These combine to give us a very strong momentum... India is one of the most vibrant and open markets. And there are so many opportunities to solve," he noted.