- Founders of Zomato, Naukri discuss building future business: India @ 100
- “Faster economic growth will ensure high valued Indian companies”, said Mr Sanjeev Bikhchandani,Founder and Executive Vice Chairman, Info EDGE
The Indian Chamber of Commerce organized a fireside chat with founders of Zomato and Naukri to discuss the future of business in India, specially India@100. Also joined by the representative of TVS Capital Funds, the session dealt on different components of business like markets, reforms, digital technologies and start-ups.
For more Indian companies to enter into the Top 500 valued companies of the world, the Indian economy has to grow at a faster pace, believed Mr Sanjeev Bikhchandani, Founder and Executive Vice Chairman, Info EDGE. “If Indian economy needs to grow fast it will be easier for the Indian Companies to have that kind of valuation,” he said. He elaborated that most of the top valued multinational companies first served their home market and then expanded globally.
Also speaking at the session, Mr Deepinder Goyal, Founder & CEO, Zomato, about the success of his company mentioned that his vision focussed on serving “customer first” and creating a “sustainable business”. About availability of capital he said, traditional businesses need to focus on partnering or investing in start-ups rather than considering owning them. He also mentioned that 66% of capital available for start-ups still came from foreign sources.
Mr Gopal Srinivasan, Founder, Chairman and Managing Director, TVS Capital Funds also highlighted that the Indian start-ups still depend on foreign capital. He was of the view that India should be ‘Atmanirbhar’ on capital and democratise access to capital by creating a virtuous cycle.
Advising new entrepreneurs, all the speakers were of the view that they should focus on what they were capable of doing best rather than think on valuation.
Moderating the fireside chat, Mr Ranjan Navani, VC and MD Jetlie Group of Companies described an entrepreneur as a person with limited resources, with high aspirations and willing to take risk. Earlier, Mr Vikash Agarwal, President, Indian Chamber of Commerce in his Welcome Remarks pointed out that the next 25 years should be about unleashing the true potential of India. Dr Rajeev Singh, Director General, Indian Chamber of Commerce offered the formal Vote of Thanks.