Indian startups now building products for the world: Advocacy group

Having graduated from coding or emulating the concepts invented in the west, startups in India have entered a new phase wherein they are successfully building products for the world and raising money from the west, according to a top India-centric US advocacy group.

I think the Indian startups scene is entering a third phase, building products for the world, Mukesh Aghi, president of US-India Strategic and Partnership Forum (USISPF) told PTI.

Noting that the whole Indian IT industry picked up after the Year 2000, he said this area focused more on coding and was more of a labour arbitrage. In a way, it filled a vacuum which was needed, he observed.

The second phase involved Indian companies emulating the concepts invented here in the US, following companies such as Uber, Ola, Amazon and Flipkart, he said, adding that on the healthcare side, there are many similar examples.

Up to a certain extent, this tactic has been successful in India. However, the second phase was not for an export .