Entrepreneurial Renaissance: India's Rise, Global Return & Fintech Future!
In a significant trend, Indian entrepreneurs are returning from Europe and the US to capitalize on India's growing economy and vast opportunities. Saurabh Srivastava, former NASSCOM chairman, highlighted this shift at the Singapore Fintech Festival. He cited India's economic growth, abundant opportunities, and government support as key drivers. Srivastava aspires to see India achieve double-digit growth, urging the cultivation of a million startups to fuel economic expansion. As a Padma Shri Awardee, he has personally funded 150 startups.
Srivastava praised initiatives like the GIFT City in Ahmedabad, creating a tax-free zone to attract investments. He noted India's strides in renewable energy and its potential to lead globally in the space sector. The Fintech Festival featured a panel moderated by Tarush Bhalla, exploring the $2.1 trillion fintech opportunity for Digital India. Industry leaders, including Pallavi Shrivastava, Swati Bhargava, Tushar Aggarwal, Manish Kumar, and Souparno Bagchi, discussed the evolving fintech sector. They highlighted diversity, from B2B supply chain financing to cashback apps, with CashKaro's Swati Bhargava sharing insights. The panel addressed regulatory aspects, acknowledging regulators' role in fostering innovation. They advocated for dialogue-driven regulation and Self-Regulated Bodies (SROs) to ensure industry stability and a level playing field.
The return of Indian entrepreneurs, coupled with innovative discussions at the Singapore Fintech Festival, reflects a promising synergy between India's economic potential, government support, and the evolving landscape of the fintech sector, promising a dynamic future for the nation's entrepreneurial ecosystem.
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