Amazon Senior executive of Amazon Web Services (AWS) Kumar Raghavan has said that the startup ecosystem in India is mature and many favourable conditions are driving India to become the third largest economy in the world. Raghavan is the startup head of AWS in India and South Asia. Raghavan discussed the vibrant Indian startup scene with PTI-Bhasha and highlighted its strength and innovation potential. He said, “We are the fifth largest economy and are moving towards becoming the third largest economy.
India’s startup ecosystem is mature
The contributing factors are labour growth, infrastructure growth and efficiency improvements, where technologies like creative artificial intelligence (GenAI) will play a role. Apart from these, there is also the presence of a large developer ecosystem, the ability to manufacture products in the country and serve globally, and regulatory favourable conditions like the Production Linked Incentive (PLI) scheme, he said. Raghavan praised the maturity of the Indian startup ecosystem.
The world’s third largest startup ecosystem
He said this took into account the significant contribution of experienced founders who have started multiple ventures. “We are the third largest startup ecosystem in the world. We continue to have some favorable conditions,” he said. “In the last seven-eight years, we have seen founders starting multiple startups,” Raghavan said. This wealth of experience has not only accelerated startups but also increased their chances of success, he said.
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