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March Towards Golden Era: M.R. Rangaswami's Outlook on India Emerging as Hot Tech Market

In the past few months, India has received more than $20 billion in funding amid the coronavirus pandemic. It’s an unprecedented series of FDI that India has received during a pandemic, leading to India’s ‘golden moment’ in tech, pharma, and manufacturing. Thanks to ET Now news, this week’s interview is with Sand Hill Group’s Co-Founder, M.R. Rangaswami, sharing his views on the bullish market India can anticipate for the foreseeable future. 

ET Now: Why are India’s tech markets forecasted to do well? 

M.R. Rangaswami:

1. Substantial foreign funding is bringing a large influx of capital into the Indian market – including Google’s injection of $10 billion dollars in the past three months. This is real money, not just commitments. And with a start like that, it’s foreseeable that India could get another $80 million in the next decade. 

2. As a result of COVID, India has experienced a rate of digitalization that they’ve never experienced before. Flip phone users have moved to smartphones – prompting more apps to emerge in the market. 

ET Now: What will this money do for Indian markets? 

M.R. Rangaswami:

1. Finding and funding unicorns and startups starting in India

2. New apps will emerge. There are a billion consumers in India who are all going digital. Therefore, all markets, like healthcare, retail, sports etc., are going to target and support the new work-from-home ecosystems. 

ET Now: What are the foreseeable challenges that come with such rapid change? 

M.R. Rangaswami:

1. Valuations: Companies without strong sustainable economic models may be quick to take up funding, but will eventually fade. Whereas companies with quality business models will thrive. 

2. Security: The Indian government will need to remain open to multinational platforms while preparing themselves at the onset to set up privacy regulations and store user data safely. 

3. Smaller business support: As the multinational companies enter the marketplace, smaller businesses will need to find new adaptations on how to survive in a new marketplace. 

To enjoy the full detail of the interview, start at minute 2:30, here: 

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