The interaction took place at the prime minister’s residence in the capital.
It was attended by several senior executives, including Prashant Prakash from Accel, Rajan Anandan from Sequoia, Gopal Srinivasan from TVS Capitals, Renuka Ramnath from Multiples, Amit Dalmia from Blackstone and Munish Verma from SoftBank.
“If you go back 10 years, we had no unicorns. This year, at the end of 2021, we will have over 70 unicorns. In fact this year, we have doubled the number of unicorns,” said Sequoia India’s MD Anandan. “Ten years ago, we had less than a billion dollars of funding going into startups every year. This year, we will have over $30 billion. And I credit a large part of it to the extraordinary focus that our PM and the government have had on startups. The real startup India movement started accelerating in 2015.”
The attendees also talked about the entrepreneurial potential of the country, and how it can be leveraged for Indian startups to attain global scale. While Accel’s Prakash highlighted opportunities in agri startups, Anandan suggested working towards making India the global hub in education by leveraging technology.
“The interaction that we had with the PM was amazing because the intent with which he was listening to every single input and the recommendation from the people in the meeting was very deliberate and was very clear that a big change is coming in India,” said General Atlantic’s MD and head of business in India, Sandeep Naik.
India Resurgent’s Shantanu Nalavadi praised the reforms undertaken.