Paytm founder Vijay Shekhar Sharma lauds government's support for startup ecosystem

NEW DELHI: Vijay Shekhar Sharma, the founder of fintech company Paytm has all praise for the current government for creating a conducive environment for Indian start-ups to launch, grow, and succeed. Speaking at the JITO Incubation and Innovation Foundation (JIIF)'s Innovation Conclave, Sharma highlighted the significant strides made under Prime Minister Narendra Modi's leadership.
"Under Prime Minister Narendra Modi's leadership, now is the opportune moment for startups to launch and thrive. The current environment offers unprecedented opportunities, with the government consistently recognizing and rewarding the entrepreneurial spirit of India's youth. The startup ecosystem is flourishing at an extraordinary pace, placing the country on a robust development roadmap to 2047. Over the past few decades, India has established a strong reputation in IT services and software sectors. Today, we are witnessing an unparalleled surge in startup and innovation culture," Sharma said.
India's startup ecosystem, now the third-largest globally, is realizing the dreams of countless entrepreneurs and introducing innovative business practices.
Sharma highlighted government's initiatives for startups to help them explore new areas like artificial intelligence (AI) to develop ideas that simplify and revolutionize day-to-day life.
"The last 10 years of the government had a very positive impact on the infrastructure front, whether you look at connectivity in the country, road connectivity or airline connectivity, in a way infrastructure has been," he added.
Other than Vijay Shekhar Sharma, JIIF Innovation Conclave, themed "Ideas to Impact: Cultivating Innovation and Entrepreneurship," was attended and addressed by Aadit Palicha, Co-founder and CEO, Zepto, and Sanjeev Bikhchandani, Founder Infoedge. The event attracted over 300 angel investors, 100 startups, 30 unicorns, and numerous international investors, offering a unique platform for entrepreneurs to engage with investors and industry experts.
Aadit Palicha, founder of Zepto, shared his journey of transforming a local grocery project during the pandemic into a company of Rs 30,000 crore in just three years. "Reflecting on the past three years of building Zepto, the journey of two college dropouts creating a company valued at Rs 30,000 crore in just three years could only happen in one country in 2024: India," Palicha remarked.