Entrepreneurship In India

These brothers, Mohit and Rahul Yadav built a brand from scratch and sold it for ₹3,000 crore in just four years. It’s called Minimalist, and you’ve probably heard of it. But you haven’t heard of Freewill, the brand they built right before. This was personalized haircare startup that bled cash, had no traction, and just wasn’t working. So they cut their losses, shut it down, and started fresh in 2020 with Minimalist -betting on radical transparency in an industry built on exaggerated claims. 8 months in, ₹100 crore revenue. No ad spend. People say they just copied The Ordinary. Maybe. But growth like that? You can’t ignore it. Here’s what D2C founders can learn from their playbook: 1. The market decides, not you Freewill didn’t fail because they lacked effort. It failed because the market didn’t respond well. Smart founders don’t get emotionally attached to ideas - they test, adapt, and pivot. 2. Trust is the ultimate growth hack Minimalist didn’t just sell skincare. They sold credibility. By listing every ingredient, sharing clinical data, and removing the jargon, they built a brand people believed in. When trust is high, CAC is low. 3. They played the pricing game strategically They undercut competitors early on, making it easier for customers to try them. But pricing wasn’t just about being ‘affordable’, it was about removing barriers to trust and driving word-of-mouth growth. 4. They adapted for India Minimalist didn’t copy The Ordinary. They focused on Indian skincare needs, formulated for local climates, and built a brand that resonated with this market. - I’ve built, scaled, and invested in companies for over two decades now. And if there’s one lesson here, it’s this: Real category disruptors don’t chase trends, they solve real problems better than anyone else. What do you think of their approach? #minimalist #success #startups

Quick will eat all Indian commerce! Marc Andreessen said, "Software will eat the world" in the 2000s to suggest how big the software opportunity really was and how we were at the start of a megatrend! Similarly, based on the extreme habit forming around quick commerce in India, it is apt to wonder if "Quick will eat all Indian commerce". The pace of adoption of quick commerce and the intensity of PMF (one of our founders said they often end up ordering groceries "after" their cook shows up!!!) may be almost as strong as UPI. Everyone who has experienced "quick commerce" is not going back. We are seeing this across categories - while it started with groceries, the response to "quick" in food, fashion, beauty, and even construction material has been telling...all based on real data. Timing may be an important factor here - we are more ready to cost-effectively deliver the "quick" experience than we have ever been. For example, Yulu, which delivers India's most durable & most cost-effective unit of EV mobility, powers crores of "quick rides" every month and has the full-stack capacity in place to scale it! Blitz started building their last-mile infrastructure for brands two years ago and is ready to cater to the "quick demand". Wherehouse, similarly, started two years ago and has everything in place for powering another piece of this infrastructure. These are just our portcos - am sure there are others I don't know who are building other pieces of this puzzle! Slikk is delivering curated fashion in 60 minutes all over Bangalore. In HSR, Swish is delivering fresh food in 10 mins. Cital is pioneering "quick" in construction material that was never imagined before. Incumbents are racing to figure out their "quick" strategy almost as frenetically as software incumbents adding AI copilots! A lot is up in the air though. How will this all pan out? What will brands do? How quickly will incumbents cannibalize their e-commerce stores for a quick commerce strategy? Who will deliver? How will returns work? Non-EV logistics are unlikely to work from an economics perspective - so the question is how fast and large can Yulu scale? What are other solutions? Will quick commerce stack be fully vertically integrated OR will it be fully disaggregated and federated? Will Yulu publish its capacity (demand and supply) on ONDC for riders to pick it up for a win-win-win? How will vertical quick commerce players create differentiated supply chains and customer experiences? All fun stuff -- but the time is now. It's all happening now and those building at the edge are learning fast and iterating to build a stack that will power the "Quick India Movement" as I call it. ....or I am completely wrong here :) Time will tell. For now, we are all-in and will share more as we learn.

Consumer behavior in India is evolving in a direction that the world hasn’t fully grasped yet. And perhaps never will — unless they live and build here. I'm noticing three forces that are uniquely shaping this rapid transformation: Hyperlocality: A consumer in Coimbatore expects the same personalization as someone in Connaught Place. Not just in language — but in intent, value, delivery, and even cultural cues. India is no longer “one” market — it’s 100s of micro-markets, each demanding their own identity. Hyperspeed: Trends rise and fall within days. Commerce, content, and conversations move at the pace of virality. The moment is everything. Blink(it 😉) and you've missed the consumer. Every brand must now think like a creator — always-on, always-relevant. Hypersensitivity to Price: But not in the way the world once assumed. Value doesn’t mean “cheap.” It means fair, smart, and deeply justified. The Indian consumer is savvy — they will spend, but they demand authenticity, aspiration, and accountability in return. This is not just behavior. It’s identity. To build for India is to understand her soul — layered, dynamic, and bold. And the companies that do that — at scale, with empathy — won’t just win here.  They’ll redefine global playbooks.

Are we building “dukaan” or the future? By now, you all know what Piyush Goyal sir said at Startup Mahakumbh and the heated debate that followed. And for all the right reasons. Here are my two cents as a founder in India: First things first, the argument oversimplifies what it takes to build an innovation ecosystem. Because… 1/ "Dukaandari" drives deep tech – Amazon was an online bookstore before it created AWS. – Google was a search engine before it became an AI giant. – Even Tesla began with luxury EVs before making a play for mass adoption. These businesses first built cash flow, distribution, and infrastructure, which became the foundation for more significant innovations. So when Aadit Palicha says consumer internet startups enable deep innovation, he’s not wrong. The logistics built for food delivery will power drone tech. The fintech rails built for UPI will power the next wave of DeFi. We can’t (& shouldn’t) discount these stepping stones. 2/ Yes, China is leading in semiconductors, EVs, and robotics. But we forget that China’s ecosystem is state-driven. Heavy government subsidies, protectionist policies, and central planning have fueled its deep-tech boom. India? We’re playing a different game. Our strength has always been frugal innovation, services, and consumer-driven businesses. – That’s why we pioneered UPI. – That’s why our IT services industry dominates. – That’s why ISRO sent a Mars mission for less than a Hollywood movie’s budget. 3/ Lastly, the problem isn’t what we’re building but what we’re not Instead of saying, "Stop building this," it should be, "How do we ensure startups have the support to build deeper innovations alongside consumer businesses?" So, both sides have a point. Yes, we should invest in deep tech. But no, we shouldn’t undermine consumer businesses that create jobs, infrastructure, and stepping stones for the future. Following China’s playbook isn’t the only way forward. Let’s build boldly in every direction. #StartupMahakumbh #IndiaVsChina

Over 40% of unicorns in India are funded by reverse brain drain talent. This reverse migration of skilled professionals from overseas, especially from tech hubs like Silicon Valley, is accelerating India's growth. But first, let’s understand what’s reverse brain drain. Reverse brain drain is simply the net increase of bright people from other countries. In the case of India, individuals who moved abroad for better job opportunities are returning to their home country, bringing back their skills and experience. Here is why I and many others think that this trend is benefitting our country- ▶️ First, these entrepreneurs and professionals, such as Prashant Tandon, co-founder of 1mg, Abhiraj Singh Bhal, co-founder of Urban Company, and many others, bring valuable global experience, exposure to cutting-edge technologies and access to networks that aid in fundraising and scaling up. Their stints abroad equipped them with a broader perspective to identify unique opportunities back home. ▶️ Second, the reverse brain drain has catalyzed the creation of new knowledge-based sectors like SaaS, product engineering, deep tech, etc. For instance, Swati Bhargava, co-founder and CEO of CashKaro has moved back from London and started her venture. Indian startups are now providing cost-effective, localized solutions that were previously unaffordable for small businesses. This is democratizing technology access. ▶️ Third, reverse migration is creating employment opportunities across tier 2/3 cities and rural areas. Entrepreneurs like Sridhar Vembu, founder of Zoho, are inspiring local talent by setting up operations in smaller towns of Chennai and retaining skilled workers who may have otherwise moved to metros. Overall, the cross-pollination of ideas, skills, and capital stemming from the reverse brain drain is fostering an entrepreneurial mindset. Talented Indians are solving India's unique challenges using their global learnings, giving rise to innovative business models and boosting economic progress. However, we cannot overstate the fact that to sustain this momentum, we need industry-academia collaborations to create a robust talent pipeline and supportive policies that incentivize reverse migration and ease of doing business. What's your view on the impact of reverse brain drain on India's growth trajectory? I'm keen to hear perspectives from founders, investors, and professionals across sectors. #Reversebraindrain #IndianUnicorns #TechTalent

India’s Real Growth Engine: Mid-India, Mid-Size, and the Middle Entrepreneur While headlines orbit around unicorns and metros, India’s real economic horsepower is quietly revving in the heartland-Tier 2 and Tier 3 cities like Tirupur, Rajkot, Morbi, Coimbatore, Ludhiana. This “Mid-India” is no longer playing catch-up; it's setting the pace. Industrial Clusters Rule: Tirupur exports ₹30,000+ Cr of knitwear annually. Morbi produces 90% of India’s ceramics. Rajkot powers auto parts. These are globally competitive ecosystems, built by MSMEs, not conglomerates. Frugal Innovation + Scale: Mid-size entrepreneurs have mastered Jugaad 2.0—not just doing more with less, but doing better with less. Think powerlooms, solar pumps, modular factories. Not sexy, but extremely scalable. Employment & Livelihoods: MSMEs account for ~30% of GDP, ~45% of exports, and ~110 million jobs. That’s your job engine, not IT campuses. Digital Leapfrog: With UPI, WhatsApp commerce, and ONDC, these businesses are going digital without legacy baggage. Suddenly, a saree seller in Surat has national distribution. Cultural Capital: Unlike legacy family businesses, today’s tier-2 entrepreneurs are IIT-dropouts, WhatsApp marketers, and factory-floor hustlers. They’re hungry and unafraid of risk. Bottom line: India's trillion-dollar dreams won’t be built in air-conditioned boardrooms alone. They’ll be stitched, forged, printed, and packed in the dusty lanes of Mid-India by its quiet gladiators: the mid-size firms and middle entrepreneurs ! We, at www.thinkasconsumer.com , provide management support and work shoulder to shoulder with such mid size organisations and Entrepreneurs and thus ramp up the businesses & brands , hopefully in our small way help in nation building ... ( We are not just consultants ) #thinkasconsumer #middleindia #economicgrowth #interimmanagement #FractionalCEO #RampUp #businessgrowthstrategy #BusinessGrowth2025 Rajib Chakravorty Suchismit Ghosh Think As Consumer - Thinkasconsumer.com 😊 👍

After my recent visit to India, I connected with several startup founders and heard stories of success, failure, and key lessons from navigating the country's dynamic startup ecosystem. As India’s generative AI ecosystem grows, with over 70 𝘀𝘁𝗮𝗿𝘁𝘂𝗽𝘀 𝗮𝗻𝗱 $580 𝗺𝗶𝗹𝗹𝗶𝗼𝗻 𝗿𝗮𝗶𝘀𝗲𝗱, several recurring challenges emerged during my conversations: value creation, the high costs of AI infrastructure, building sustainable moats, and finding the right talent. The startups that successfully navigate these hurdles tend to focus on a few key strategies: 𝗗𝗮𝘁𝗮 𝗮𝘀 𝗮 𝗞𝗲𝘆 𝗔𝘀𝘀𝗲𝘁 It’s not just about amassing vast amounts of data; it’s about unlocking its true potential. Startups that take control of localized data and solve data-related challenges early on gain a significant edge. Understanding local nuances, structuring data effectively, and using it in ways competitors cannot create a strong competitive advantage. 𝗕𝘂𝗶𝗹𝗱𝗶𝗻𝗴 𝗮 𝗦𝘁𝗿𝗼𝗻𝗴 𝗠𝗼𝗮𝘁 Successful startups tackle complex challenges, like regulated industries and underserved markets, that aren't obvious targets. While these markets may not provide immediate returns, they offer opportunities to create lasting value, creating barriers that make it difficult for competitors to catch up. 𝗟𝗼𝗰𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁 𝗔𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲 India's market presents its own set of challenges. Startups that design products specifically for the Indian ecosystem are more likely to succeed. While there’s pressure to target global or Western markets, true success often comes from tailoring solutions to India's unique cultural, social, and economic realities. 𝗥𝗲𝘁𝗮𝗶𝗻𝗶𝗻𝗴 𝗧𝗮𝗹𝗲𝗻𝘁 India has a wealth of engineering talent, but the challenge is twofold: finding AI experts to build a strong foundation and keeping the team engaged over the long term. High churn rates are common, but fostering a culture of belonging, empowerment, and encouraging risk-taking is key to retaining top talent. 𝗟𝗲𝘃𝗲𝗿𝗮𝗴𝗶𝗻𝗴 𝘁𝗵𝗲 𝗘𝗰𝗼𝘀𝘆𝘀𝘁𝗲𝗺 India’s regulatory and startup ecosystem has matured significantly, offering immense growth opportunities. Successful startups capitalize on government programs, incubators, and the broader ecosystem. More importantly, they learn from founders who have failed before. Failure offers invaluable lessons, and tapping into these insights helps new startups avoid common pitfalls and chart their path to success. Source: https://lnkd.in/g-MvGMwv

This man runs a $6B startup from a remote village in India. It: • raised $0 funding • has 100M+ users • generates $1B+ in ARR The company is Zoho, founded by Sridhar Vembu. Sridhar scaled Zoho to $300M+ in annual profit. It makes its own version of Google Docs, QuickBooks and other apps. But initially, he wasn't even part of the company. So how did he join Zoho & turn it into a global tech giant? In 1996, Sridhar's brothers founded Advent, a network management startup. They hired Sridhar to lead sales. He crushed it.  Within 3 years, Advent grew to $10M+ in revenue. Sridhar was promoted to CEO. But the happy times didn't last. The 2002 dot-com crash reduced Advent's customers from 150 to 3. Thousands of startups went bankrupt. But it didn't. Why? • It had free cash flow (as it prioritized profit over growth) • Low operating cost (most employees were from India) • No investors (no pressure to chase unsustainable growth) The Advent team leveraged these advantages to pivot. In 2002, they launched Manage Engine, an IT management software. The product was a huge hit. But amidst the success, a problem brewed once again. Sridhar's brothers left the company due to differences and he was left alone. He says, “This was the most depressing period of my career.” But he didn't give up. In 2005, he launched Zoho, the company's cloud software division. It created productivity software for businesses: CRM, accounting platform, marketing tools, and more. Within 3 years, Zoho hit 1M+ users. Seeing its rapid success, Sridhar renamed the company from Advent to Zoho Corp to go all in on the cloud software market. It worked. Zoho grew from 1M users to 100M+ users in 15 years. It has 700,000 paid customers across 150+ countries. Here are a few reasons for Zoho’s success: a) Product diversification Zoho has 55+ products — from HR and marketing, to finance and sales. It offers what you need to run your business. So, why pay Typeform AND QuickBooks AND 53 other SaaS? Zoho bundles all those 55 SaaS products into one product for a cheaper price. b) Low employee cost Zoho runs Zoho schools. It teaches students coding and other skills for free, and then hires them. The school has 1600+ graduates — 15% of Zoho's employees. For every engineer hired from Zoho school, Zoho saves $50K-$80K compared to hiring from the U.S. c) Affordable prices Zoho spends <10% of what its rivals spend on marketing. With low employee and customer acquisition costs, it can keep its prices low. For example: • Zoho's CRM is priced 70% lower than Salesforce, Microsoft, and other CRMs Low prices = more customers d) High R&D spend Zoho spends 60% of its revenue on R&D. It invests in technologies to create new, cheaper products that meet user needs before the competition does. This helps the company acquire new customers and retain the existing ones. That's it!

This past month, I traveled to India to connect with Microsoft teams, customers, and partners. Experiencing how AI is transforming industries always leaves me energized.   Here are the key things that left a lasting impression:   ⚡Speed and cost-efficiency are driving innovation. The “Quick Everything” mindset is reshaping industries – from 10-minute deliveries to nearly instant professional services. Demand for speed and lower-cost solutions pushes companies to explore frugal and scalable alternatives and fuels a rich ecosystem of innovation with collaboration between startups and enterprises.   ➡️ The AI conversation has shifted and the adoption gap is closing. Conversations about AI adoption have moved beyond ‘if’ or ‘when’ -- focusing now on ‘how’ to integrate it responsibly and effectively. I had the chance to explore this in more depth with Harichandan Arakali and the Forbes India team, you can catch the conversation here: https://lnkd.in/gQp_R79y   💻 AI is transforming lives at scale, closing innovation gaps and revolutionizing sectors like education and healthcare by delivering scalable, affordable solutions to underserved populations. From ed-tech to health-tech, it’s incredible to see the impactful work Microsoft is doing with partners like PW (PhysicsWallah), Max Healthcare, Narayana Health, and others, set to benefit millions in India and beyond.    There were so many other highlights to reflect on. One notable mention: meeting the CyberShikshaa+ team. As someone with a background in cybersecurity, I loved hearing how their training program is helping women from disadvantaged backgrounds pursue careers in cybersecurity.   Thank you to Puneet Chandok, Ajay Chhabra, Priyanka Soni, Jaspal Singh Riyat, Vinay Kumar, and everyone else who made this visit so impactful – I look forward to seeing how these conversations and collaborations continue to shape the future of AI. 

India is historically one of the largest and fastest-growing exporters of tech services in the world (chart below). When people think of Indian tech, they usually revert to companies like TCS, Infosys and Wipro, which derive upwards of 90% of their revenue outside #India. Now a growing wave of Indian talent is building tech specifically for India. The number of India-focused tech startups is surging. India is now the third largest #unicorn market in the world. A growing share of these companies are going public, from Zomato, Nykaa, Nazara Technologies Limited and Policybazaar.com to more recent IPOs like ixigo and Digit Insurance. Increasingly, the most exciting part of India's digital future isn't their exporters but rather its home-grown internet companies selling locally. Source: Goldman Sachs EMQQ Global #INQQ #digitalindia #emergingmarkets