New Delhi: Indian startups are redefining the e-commerce landscape, previously dominated by foreign players, through innovative instant delivery models, said Dilsher Singh Malhi, Founder and CEO of Zupee.
Speaking at the India Internet Governance Forum (IIGF) 2024, held at Bharat Mandapam in Delhi on Monday, Malhi emphasized the transformative role of Indian enterprises in the digital economy.
"First the Indian e commerce was driven and controlled by the foreign players primarily, but the instant delivery model of Indian companies is disrupting the E commerce business," he remarked.
Malhi attributed much of this progress to government support, highlighting the importance of policy frameworks and initiatives that foster innovation.
"I would also like to acknowledge this forum the pivotal role the government has played in shaping policies and regulations that have posted innovation government support and the principles based rather than prescriptive approach towards regulation, 30 startups to innovate responsibly, and I am confident that a similar approach will continue to encourage entrepreneurs like us to stay committed to drive growth," he said.
Malhi praised India's evolution as a global digital powerhouse, noting its emergence as the third-largest startup ecosystem. He linked the growth of the ecosystem to the development of robust digital public infrastructure, including UPI, Aadhaar, and advancements in mobile technology.
He further expressed optimism about initiatives like Bharat 6G Vision, the Semiconductor Mission, and the AI Mission, which he believes position India for exponential economic growth and the ambitious goal of a USD 5 trillion economy.
Highlighting the role of startups, Malhi stated, "Startups are already redefining how we experience education, healthcare, travel and even entertainment. The opportunities for innovation in newer areas are startups will continue to respond to the evolving needs of people and serve as painkillers and vitamins for good social health."
He also discussed how advancements in AI and blockchain technologies, driven by sectors like gaming, are transforming industries such as education, financial services, and cybersecurity.
The IIGF 2024 provided a platform to showcase India's digital progress, with Malhi expressing confidence that startups will play a critical role in driving the nation's economic growth and innovation journey. (ANI)