Important For Rupee Capital To Play Larger Part In Investing Domestically: Sudhir Sethi
Innovation from the Indian startup ecosystem is attracting funding from all over the world. But the rupee capital is increasingly getting involved in fueling this innovation too. Chiratae Ventures’ founder and chairman, Sudhir Sethi, took to the stage at BW Businessworld’s Inaugural Edition of BW Unicorn Summit & Awards 2022, to share some great insights from a yet-to-be released report by Chiratae Ventures.
He said: “By 2020, revenue earned by technology startups stood at USD 20 billion. But the revenue today has surpassed USD 30 billion. These companies grew at the CAGR of 34% in the last five to six years per annum, while the annual growth rate of these startups was 50+ per cent”.
The VC founder also shared that the technology startup ecosystem in India will cross USD 150 billion in revenue by 2027. In the same timeframe, the IT services businesses will cross USD 350 billion in revenue at a slower growth rate. On the electronics front, the market is expected to touch USD 75 billion.
Chiratae Ventures’ Sudhir Sethi took to the stage at BW Businessworld’s Inaugural Edition of BW Unicorn Summit & Awards 2022 and shared some great insights from a yet-to-be released report by Chiratae Ventures.
