: Opinion: Connect globally, with Indianness #IndiaNEWS #News By Srinivas Rao Mahankali Even as the Covid-19 pandemic wreaked havoc on the world and ravaged global economies, it ushered in winds of

Opinion: Connect globally, with Indianness #IndiaNEWS #News
By Srinivas Rao Mahankali
Even as the Covid-19 pandemic wreaked havoc on the world and ravaged global economies, it ushered in winds of positive change for India’s startup ecosystem. According to recent reports, 43 startups were identified as unicorns in 2020, and 42 others in 2021, making it a bumper period for homegrown startups. The Indian startup ecosystem also witnessed 706 seed-stage deals and raised billion from investors across the board in 2021.
In the current digital world order created by disruptive technologies, several Indian startups are seeking to consolidate their position by exploring foreign markets. A recent survey revealed that over 42% of Indian startups are looking to build world-class brands by tapping into overseas markets in 2022. Interestingly, over 64% of these startups are in the SaaS (Software-as-a-Service) sector and are expected to touch billion in revenue by 2025.
Recently, tech startup Freshworks saw a stellar listing on the US bourses, making it the first Indian SaaS firm to debut on Nasdaq. Freshworks founder and CEO Girish Mathrubootham echoed the sentiments of the Indian startup ecosystem at large when he declared, “We are showing the world what a global product company from India can achieve. �? From its early days as Freshdesk to its current . 7 billion valuation as Freshworks Inc, the company is a fine example of how ambitious Indian startups can realise their dream to go global through proper planning and strategy.
Seizing Opportunities
Innovation has been the mainstay of the startup ecosystem since the outbreak of the pandemic in 2020. The inventiveness of India’s entrepreneurs is fuelled by their tech-focused approach to finding unique solutions to real-time challenges. The maturing startup ecosystem has witnessed Indian startups creating cutting-edge products and services that are being recognised in overseas markets. The slew of startups that filed for IPOs in 2021 has further strengthened India’s position as the third largest startup ecosystem in the world.
Today’s homegrown startups are eager to reach a larger global audience by offering innovative ‘Made in India’ solutions. In my view, however, before blindly leapfrogging into international markets, founders should weigh the pros and cons of going global. They should have an astute understanding of their priorities and the business outcomes they seek to achieve.
Among factors Indian startups should consider are whether the products and services they offer have the potential to scale global markets. The critical decision should also be based on the availability of viable international sales distribution channels to both identify and onboard potential customers.

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