According to IANS-CVoter Issues That Dominated India 2021, $6.5 billion is the net worth of Falguni Nayar. That was what the founder of online fashion store Nykaa, became worth after she raised money through an IPO. This single number conveys the power and promise of entrepreneurship in India; if it is provided with an enabling environment.
A record 33 startups also joined the Unicorn club in 2021 by being valued at $1 billion and above. However, the e-commerce tide is not mirroring the general lack of optimism induced by the pandemic among Indians. Only 34 percent agree that the Country is moving forward and their lives too. As mentioned in earlier despatches, while there can be no doubting the blood and tears expended by many unsung heroes and heroines in the startup ecosystem, the road towards success and riches looks daunting for too many Indians.
When 800 million Indians are dependent on government food aid for sheer survival in the battle against hunger, where is the question of nursing a dream of launching a startup with an innovative idea that can capture minds and markets.
That so many Indians have succeeded against all odds is a testament to the resilience and never say die spirit of Indian entrepreneurs. Nayar is not the daughter of a tycoon; though she had a privileged upbringing by Indian standards. The only woman richer than her in India is perhaps Savitri Jindal, the matriarch of the well known Jindal business family. Most founders whose companies have joined the Unicorn club in recent times come from relatively humble backgrounds.