Indian startups are revolutionizing the e-commerce landscape, once dominated by foreign players, with cutting-edge instant delivery models, according to Dilsher Singh Malhi, founder and CEO of Zupee.
Speaking at the India Internet Governance Forum (IIGF) 2024 at Bharat Mandapam in Delhi on Monday, Malhi highlighted the pivotal role of Indian enterprises in reshaping 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 credited this progress to strong government support, emphasizing the crucial role of policy frameworks and initiatives in driving 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 celebrated India’s rise as a global digital leader, highlighting its position as the world’s third-largest startup ecosystem. He attributed this growth to the development of robust digital public infrastructure, including UPI, Aadhaar, and advancements in mobile technology. Moreover, he expressed optimism about transformative initiatives such as the Bharat 6G Vision, the Semiconductor Mission, and the AI Mission, which he believes will propel India toward exponential economic growth. These efforts, he added, align with the nation’s ambitious target of achieving 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.”
Advancements in AI and blockchain technologies, fueled by dynamic sectors like gaming, are revolutionizing industries such as education, financial services, and cybersecurity, Malhi highlighted. He emphasized how these cutting-edge innovations reshape traditional systems and unlock new growth opportunities.
The India Internet Governance Forum (IIGF) 2024 showcased India’s remarkable digital progress. Malhi expressed confidence that Indian startups will spearhead the nation’s economic growth and innovation, cementing their role as key drivers of transformation in the global tech landscape.
