Bottom to the Forefront: Paytm Founder on India’s Startup Rise

New Delhi, July 7, 2024 – Paytm Founder, Vijay Shekhar Sharma, lauded the Indian government for catapulting startups into the spotlight, marking what he calls a “golden period” for entrepreneurs.

Sharma in his address at the 7th JIIF Foundation day, Sharma emphasized the transformative shift from startups once being at the bottom of the job hierarchy to now leading the charge in innovation and employment.

The Indian Dream : Paytm Founder Vijay Shekhar Sharma explains the era of startup growth

Describing this era as the “Indian dream” in business and technology, Sharma highlighted the government’s role in mainstreaming startups and providing visibility to founders. He urged entrepreneurs to seize the abundant opportunities in the country by leveraging technology and innovation.

Today, startups are leading the way—it’s a dramatic shift. We’re no longer at the bottom of the food chain; we’re at the forefront,” Vijay Shekar Sharma remarked, underscoring the current favorable climate for startups in India.

“I believe it’s widely understood that for India to achieve 7% growth, credit needs to expand by 21%, or three times the rate. This is a complex business. Restrictions only limit mistakes or temptations, not because of any market demand limitations. The financial services sector is enormous and destined for growth. Financial services form the base and foundation of businesses, ensuring continual growth and a bright future,” he stated.

Sharma also offered insights for companies eyeing public offerings, advising them to engage with Indian bankers and understand retail investor sentiments through effective roadshows and clear communications.

“In the financial services sector, especially fintech, the distinction is blurring. The future looks promising with India’s economic growth targets,” Paytm Founder added, foreseeing continued growth driven by enhanced access to credit and capital through innovations like mobile payments.

Paytm Founder Sharma concluded with optimism about India’s economic prospects, affirming that the foundation of all businesses, especially financial services, ensures perpetual growth.

with inputs from agencies

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