India: A Phoenix Reborn Dr. Saurabh Srivastava Co-Founder & Past Chairman, NASSCOM Co-Founder & Chairman Emeritus, TiE Founder, Indian Angel Network

India has Progressed since Liberalization in 1991 Historical Perspective India has always been entrepreneurial: 25 % of global GDP in 1700, same as China, Europe Colonization & subsequent licence permit quota Raj brought us to our knees India has Progressed since Liberalization in 1991 GDP Grew 10 fold US $ 2.7 Billion to US $ 2.6 Trillion Exports Grew 17 fold US $ 18 Billion to US $ 303 Billion Imports Grew 19 fold US $ 24 billion to US $ 460 Billion Forex Reserves Grew 70 fold US $ 6 Billion to US $ 425 Billion

India is poised for Global Leadership however there are challenges…… Majority of Indians do not have access to affordable healthcare We have only 1/3rd the teachers we need Rural areas lack access to quality education Agricultural productivity is amongst lowest, globally Water, sanitation and clean energy are badly needed We need to create 10 – 15 million jobs every year

…..but equally there are opportunities Oldest civilization but youngest nation in the world. Over 50 % of population under 25 & 65 % under 35 We produce 2.5 million graduates every year Burgeoning Middle Class Global Leadership in IT, Telecom/Mobile, Internet, two wheelers, media & entertainment , …. Stable democracy – world’s largest Government focused on economic growth and development

Converting Challenges into Opportunities Globally, Innovative Start-ups are the real engine for creating employment and economic growth Kaufman report: US data between 1977 – 2005 shows that, except for 7 years, all net new jobs were created by start-ups US, Israel and other countries have transformed their economies by creating a vibrant entrepreneurial ecosystem And this CAN be done – Software industry has shown us the way US $ 50 million to over US $ 160 billion in 25 years; targeting US$ 350 billion by 2025 Largest employer in organized sector 5 of top 10 IT service companies globally are from India 25 % of Forex Earnings

Impact of Entrepreneurship Along with jobs, start-ups create innovative solutions that benefit society and generate economic growth We have world class entrepreneurs who see our large population and their unmet needs as an opportunity Innovative solutions leveraging technology can address challenges in healthcare, education, agriculture…. Government focus on creating and enabling environment for start-ups has unleashed the power of entrepreneurship in India

India - The New Start-up Nation Amongst the fastest growing start-up hubs globally – 26,000 start-ups driven by: Large, High Growth Markets across several sectors – internet / mobile, IT, education, healthcare, agri, cleantech, logistics, fintech, media / entertainment, biotech / pharma Lure of world class products at Indian price points fueling innovation Increasing availability of risk capital across all stages Government’s fund of funds for Start-ups Growth of Angels / Networks World class entrepreneurs with global ambitions but middle class values on cost Large, young talent pool at affordable costs Government focus on creating enabling environment Successful role models CXOs / Senior Execs / NRIs joining start-ups or starting ventures in India Youngest entrepreneurs in the world: 72 % of founders are <35 years 50 % growth of female entrepreneurs Innovation is now on government’s agenda

Becoming the New Entrepreneurship Hub Family-owned business ethos declining First generation, middle class entrepreneurship flourishing – Numerous icons / role models India’s most successful / most global industry – IT, created largely by first generation, middle class entrepreneurs IIT grads going overseas dropped from 90 % to 10 % over last 5 years Since liberalization, overwhelming majority of leading companies created by first generation entrepreneurs Entrepreneurship / innovation cells in colleges Career options shifting from MNCs to start-ups Entrepreneurs now celebrated as creators of wealth & employment

India at an inflection point…. ….the best is yet to come

Global Leadership is Possible…. Indian entrepreneurs are better than world class - China, USA… Proved themselves globally, now in India - many Unicorns Indian entrepreneurs now solving India’s problems Global MNCs / PEs investing in or acquiring innovative companies Government has recognized the role of start-ups in creating employment and economic growth ; but more can be done All, not some, arms of government need to get on board India well positioned; more clout politically than in recent history Parliament must seize the opportunity – the best in a few 100 years

Thank You saurabh@srivastava.info