[ad_1]
Between ups and downs, in India the startup ecosystem continues to attract global attention. And not only due to the fact that, with around 61,400 registered startups, it is the third largest startup ecosystem in the world after the United States and China.
To rebuild the carousel of events, we must start from 2021, the year in which Indian startups raised a record amount of $49 billion in funding, and an unprecedented number of them, 44, have become unicorns. This year the situation has cooled off: according to a report from the Tracxn platform, in 2022 there was a 35% drop in funding year-on-year, but there was some improvement: $1.27 billion was disbursed in November of funding in India’s startup ecosystem, the highest in a single month since July – a positive trend helped by early stage and growth stage investments. The future, Indian analysts argue, is just as positive, at least according to the latest data released by the StrideOne financing platform, according to which the ecosystem has the potential to contribute 4-5% of gross domestic product of the country in the next three to five years.
Italy-India relations
A veiled forecast of patriotic optimism or a space that needs to be watched carefully? “Beyond the rhetoric, the development is underway, as is the real fact of Indian growth in terms of startups and unicorns, as well as the development of the sector as a whole – said Ambassador Antonio Armellini, executive vice president of the Italy-India Association for cooperation between the two countries (AIICP) -. On the Italian side, there is interest but it is not yet perfectly focused. The energy crisis has meant that many companies are now holding back the idea of exploring new markets, because it is believed that the Indian one has always been a promise not yet fulfilled. However, now it is reality, and the risk of not being there is that of missing trains”.
The problems are the known ones, from patchy development to the need to create enough jobs for a population that is now the largest in the world. “On the one hand, the growth index exceeds 6%, on the other we are talking about a country that is only partially industrialized, which however aims to move advanced technologies from China to its territory. The transition from agricultural to manufacturing economy is necessarily slow and problematic, but the efforts underway, for example at the infrastructural level to industrial modernization, are giving some effort”, continues Armellini.
The numbers, the ample room for growth and the excellence in terms of high-tech, however, favor international interest. For the ambassador, “if we look today at the top of the industries in the high-tech, industrial and financial sectors, we find Indian names, thanks to the large Indian diaspora. In Italy, the perception of those entering this market is still rather, there is perhaps a greater interest from the defense industry, which seeks to overcome the marine issue”. At the country system level, the ambassador continues, the direction is the right one, as demonstrated by the inauguration of the new Italian consular headquarters in the symbolic city of India’s Silicon Valley. “Bangalore means attention to the world of advanced technology, where we were absent, and this is certainly important. If we then broaden our gaze to the spectrum of our bilateral relations, trade has exceeded 10 billion. In short, there is movement, but far below its potential”.
Startups and interests
It is in this scenario that the second edition of theItaly India Innovation Day Milan promoted by Aiicp, during which a selected group of Indian startups and scaleups presented technologies, products, services and solutions of interest to the Italian companies involved, from Bonfiglioli to Danieli, from Piaggio to Pininfarina. Among the startups also present Ethereal Machineswhich is in charge of building machines to help produce precision engineered components faster and more cost-effectivelyexplains Operations Manager Sumeet Patil: “We are one of the few companies in the world that has perfected 5-axis manufacturing technology. With our machines we serve customers in the aerospace, automation, defense and healthcare industries”.
.
[ad_2]
Source link
