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While startups have weathered the ups and downs of funding cycles, one corner of the ecosystem has remained stubbornly dormant: marketing services. Despite the country’s digital boom and the explosion of social media, investor confidence in these businesses has been slow to build.

According to data from startup platform Tracxn, there were no funding deals involving India’s leading creative agencies in 2024, with the last recorded round in the sector occurring in 2019. Tracxn’s analysis tracked firms including Collective Artists Network, Only Much Louder, WLDD, YAAP, Qyuki, Jouv, and Growth Mechanics.

The sector spans a wide range of services, from social media management and influencer marketing to content production and advertising. Notably, companies with a focus on influencer marketplaces or content creation have proved more successful at raising funds than traditional marketing agencies.

<a href="https://cms.storyboard18.com/how-it-works/70-startups-using-ai-88-partnering-with-creators-reveals-meta-report-72401.html">70% startups using AI, 88% partnering with creators, reveals Meta report</a>

Qyuki, a digital distribution and content production platform for artists, has raised $22.1 million to date from investors including Cisco Investments, BAce Capital, and Luck Legend International. The company, founded in 2011 by Shekhar Kapur, A.R. Rahman, and Samir Bangara, is currently valued at $41.3 million.

In comparison, Mumbai-based Collective Artists Network, which has operated for 16 years as an online influencer marketplace, has raised $16.5 million, backed by Glance and Nepean Capital, with a valuation of Rs 826 crore.

Despite operating for nearly two decades, many of these businesses have largely raised capital only at the seed or Series A stages. YAAP has secured $5 million from The Rainmaker Group since 2015, while Only Much Louder, known for its music events and concerts, has raised $4.29 million from CA Media Digital. Growth Mechanics, founded in Chennai in 2012, has raised just $49,800 from Triasr and is currently valued at around $909,000.

Experts attribute investor reluctance in the sector to two primary factors: its dependence on human resources and the sheer proliferation of agencies.

<a href="https://cms.storyboard18.com/how-it-works/startups-call-for-higher-thresholds-in-ex-ante-regulations-under-draft-digital-competition-bill-70355.html">Startups call for higher thresholds in ex ante regulations under Draft Digital Competition Bill</a>

“There are an infinite number of marketing companies due to a lack of entry barriers,” said Professor Ashish Kaul. “Marketing seems to be something that everyone has an opinion on, but people don't understand it. Therefore, there are innumerable marketing firms, making the investment prospect low for investors.”

Kaul also noted that the unpredictability of client contracts makes it difficult for marketing agencies and talent management companies in India to build sustainable models, often leading to acquisitions by larger conglomerates. He pointed to WPP’s global acquisition spree, including agencies such as AKQA, BCW, CMI Media Group, as indicative of the sector’s dynamics.

Vikram Gupta, founder and managing partner at IvyCap Ventures, said the growth trajectory of these companies makes them less appealing to venture capitalists. “The standard marketing services companies may not scale like a typical J-shaped curve, but they may grow very slowly depending on the number of people they employ. So that's the reason also why VCs don't usually like investing in such companies,” he said.

Marketing Services in the AI Age

Some in the industry see an opportunity for marketing firms to reinvent themselves through artificial intelligence, as technology tends to attract capital more readily.

“VC funding for marketing companies might specifically target new-age applications that use various social media platforms and AI tools to define targeted marketing approaches and help develop marketing products. Those areas will scale up, but VC funding for specific marketing services companies is unlikely to, or if it does, it will decrease substantially in most cases,” Gupta said.

But Kaul expressed skepticism about the link between AI adoption in marketing and investor interest. “Unlike other sectors, this industry has a flawed structure where longevity is restricted by the owner,” he said.

He added that declining margins and price wars have also made it challenging for these firms to attract top talent, even as the industry struggles with instability in client contracts. “There was a time when top talent was recruited from IIM Ahmedabad, followed by MICA, but now even those candidates have become too expensive for such firms to hire,” Kaul said.

“They can't even afford to hire from MICA because what used to be a 15% commission turned into a retainer, and the retainer kept going down due to competition. If one agency doesn't provide the service, there's always another one willing to do it for a cheaper rate. So, the inability to maintain price stability, lack of entry barriers, and all these reasons are why it can't happen,” he added.

Despite digital boom, marketing startups struggle to attract investors

In a significant push to strengthen country's artificial intelligence ecosystem, Google has partnered with the state of Maharashtra to empower its AI startups, offering them with global opportunities.

Dr. Apoorv Chaturvedi, Head of Venture Capital and Startup Partnerships at Google recently met with Minister for Skills, Employment, Entrepreneurship, and Innovation Mangal Prabhat Lodha to discuss the collaboration. The move is expected to open doors for local entrepreneurs who are looking to scale globally.

“Maharashtra is ready for the next leap ina innovation. Our youth are talented and full of entrepreneurial energy. With Google’s support, we’re going to ensure they get a world-class platform to showcase their skills," said Minister Lodha. Also present at the discussion were Skill Development Commissioner Lahuraj Mali and Chief Minister Devendra Fadnavis’ OSD Kaustubh Dhavse.


Read more: <a href="https://www.storyboard18.com/digital/maharashtra-mib-to-sign-mou-for-240-acre-creative-hub-development-in-mumbai-62150.htm">Maharashtra, MIB to sign MoU for 240 acre creative hub development in Mumbai</a>


Google's venture capital and startup partnerships division is planning to establish an AI training center in India, similar to the ones operating in nine other countries. The center will provide opportunities to selected startups through a rigorous selection process. The selected startups will get access to global mentors, funding opportunities, and a gateway to international markets.

This will be the first such center in the country, and it is expected to open up global opportunities for Maharashtra's young entrepreneurs.

“This will not just be a training hub, but a launchpad for Maharashtra’s brightest minds," Lodha said. The Minister also added that initial talks have begun and a formal Memorandum of Understanding (MoU) is likely soon.

It is to be noted that in January, Google and the Maharashtra government signed a significant MoU to establish an AI Center of Excellence (CoE) at the Indian Institute of Information Technology (IIIT), Nagpur. This initiative aims to position Maharashtra as a leader in AI-driven innovation and technological advancement.

Google partners with Maharashtra to empower AI startups

The Good Glamm Group, a once celebrated content-to-commerce startup valued at $1.2 billion, is now facing mounting financial strain as it grapples with unpaid salaries, delayed severance benefits and an exodus of top leadership.

According to individuals with knowledge of the situation, the Mumbai-based company has yet to fulfill salary payments, gratuity and variable compensation owed to employees it laid off in January. Roughly 150 workers across departments such as branding, sales, technology, and product development were affected. Furthermore, April salaries for current employees have been delayed, with payments now expected by the end of May or early June, sources said.

A liquidity crunch driven by ongoing fundraising efforts has exacerbated the company’s cash flow issues. As part of cost-cutting measures, The Good Glamm Group shuttered its office in Kurla West, Mumbai, and permanently closed its Delhi location in Vasant Kunj.

Several former employees say the company has declined to provide formal experience letters, citing pending internal clearances. In response, some ex-staffers have reportedly withheld company-issued laptops until they receive outstanding dues and documentation.

Founded in 2015 by Darpan Sanghvi, with Priyanka Gill, Naiyya Saggi, and Nowshad Rizwanullah joining later, The Good Glamm Group emerged as a pioneer in combining digital media with direct-to-consumer beauty sales. Backed by marquee investors such as Warburg Pincus, the company grew rapidly through acquisitions, including digital media platforms MissMalini Entertainment and ScoopWhoop, and personal care brand Sirona Hygiene.

But amid operational challenges, the company has been forced to offload assets at steep discounts. In 2024, the founders of Sirona repurchased their company. ScoopWhoop was sold to meme-marketing agency Wubba Lubba Dub Dub (WLDD) for reported Rs18–20 crore - far below its 2021 valuation. Last month, MissMalini Entertainment was acquired by Creativefuel.

<a href="https://www.storyboard18.com/brand-makers/the-good-glamm-group-sells-missmalini-entertainment-to-creativefuel-62167.htm">The Good Glamm Group sells MissMalini Entertainment to Creativefuel</a>

<a href="https://www.storyboard18.com/brand-makers/meme-marketing-agency-wldd-buys-scoopwhoop-from-the-good-glamm-group-in-all-cash-deal-57487.htm">Meme marketing agency WLDD buys ScoopWhoop from The Good Glamm Group in all-cash deal</a>

Meanwhile, governance and leadership have been in flux. Several independent directors, including Anand Daniel of Accel, Vishal Gupta of Bessemer Venture Partners, and Gaurav Kothari of Prosus Ventures, resigned from the board last year. Key executives also departed: Sukhleen Aneja, CEO of The Good Brand Co., joined Nykaa; co-founder Naiyya Saggi stepped back from executive duties to launch a new venture; and Priyanka Gill left in early 2024 to join Kalaari Capital before founding Coluxe, a lab-grown diamond brand expected to launch in June.

With mounting liabilities and deferred payments to vendors and founders of its acquired firms, insiders estimate that The Good Glamm Group now needs between Rs250 crore and Rs500 crore to stabilize operations.

<a href="https://www.storyboard18.com/brand-marketing/good-glamm-group-announces-board-restructuring-amid-fundraise-55063.htm">Good Glamm Group announces board restructuring amid fundraise</a>

Good Glamm Group's laid-off employees' F&F not settled, staff salaries delayed, two offices shuttered

Beyond the hallowed halls of premier institutions, Indian startups are redefining the talent playbook by prioritizing intellectual curiosity, emotional intelligence, and potential over traditional pedigree. For instance, co-founder of wearable electronics startup Boult, Varun Gupta, revealed that among the 10-highest paid employees in the company do not have best resumes, top-notch skills or degrees from the premier institutes like IITs or IIMs.

Gupta stated that Boult applies a three-part formula to identify top performers: 'IQ (those who can figure things out), EQ (those who can lead without a title), and Hunger (those who treat the company as their own)'.

"In the real world, no one cares about what you know or how long you have worked," Gupta mentioned on social media. "It’s all about how fast you think, how well you execute, and how hungry you are to win".

Last month, Ankit Aggarwal, founder and CEO of Unstop, hired salesman who had assisted him in buying a printer. Aggarwal said that Sandeep's hiring was based on one factor: showcasing his skills and creating impact.

Aggarwal had assigned Sandeep to develop an app as a test, which he successfully created, securing a job.

"For us, formal applications aren't always necessary," Aggarwal said. "What’s more important is your attitude and inclination towards learning and creating an impact in the long run". 

Lab-grown diamond startup Jewelbox's co-founder, Vidita Kochar, said she looks for "decent smartness" in employees who can think logically. "We're not fixated on the idea that people need to have impressive degrees or background," Kochar said.

India’s startup ecosystem is disrupting not just markets but also traditional hiring practices and team-building approaches. 

According to Shantanu Rooj, Founder and CEO, TeamLease Edtech, recruiters are intentionally seeking candidates who demonstrate entrepreneurial thinking and a willingness to "own outcomes."

'Beyond degrees'

According to a study by specialist staffing firm, Xpheno, 61% of employees of over 110,000 white-collar professionals working at 115 Indian-born unicorns hold degrees from non-premier institutions. In contrast, 29% of employees at high-value startups hold one or more qualifications from premium tech or business schools. 

Notably, the proportion of pedigreed qualifications is lowest at the entry level, with only 22% of those with 1- 3 years of experience holding a qualification from a premier tech or business institute. The number rises gradually with experience, peaking at 34% in the 9 to 12 years experience bracket, before dropping marginally at higher experience levels.

Zoho founder Sridhar Vembu has adopted a different strategy altogether when it comes to hiring employees. The software technology firm has started its Zoho Schools of Learning, through which it recruits students directly after high school and pays a stipend of Rs 10,000 during their training period. Zoho has claimed that 10% of its workforce does not have a college degree. 

Rooj said that founders are embracing non-traditional recruitment models that prioritize real-world problem-solving (IQ), emotional intelligence and team dynamics (EQ), and entrepreneurial thinking. He said that assessments focus on how quickly candidates can identify and solve unique challenges, and startups look for individuals who can lead, collaborate, and influence regardless of title. Additionally, many recruiters intentionally choose candidates who demonstrate a willingness to "own outcomes," showcasing a shift towards more result-driven approaches.

Arindam Mukherjee, co-founder and CEO of NextLeap, recounted a conversation with a fellow founder about recruitment. They had hired a candidate for a Product Manager role who held a degree from a Tier 2 college, and the impressive aspect was her persistence throughout the interview process. 

While prominent startups still prefer candidates from prestigious institutes for mid-to-senior level roles, this trend is evolving. With the increased democratization of knowledge, many are recognizing that talent can emerge from diverse backgrounds, and there is a greater focus on skill.

"For junior-level roles, skills-based hiring is more prevalent with a greater focus on potential and adaptability. At the mid to senior levels, there is greater focus on elements like the ability to work collaboratively with others, the ability to deal with ambiguity & build resilience in teams, the ability to navigate a networked world and digital mindset," Sankalp Mohanty, Partner, Deloitte India.

According to Xpheno, 28% of employees hold a UG qualification from a premier institution. A 72% majority are bachelor's degree holders from non-premier institutions. More than one-third (34%) of employees holding a Master's degree are from a premier institution. A 64% majority are master's degree holders from non-premier institutions. Despite the relatively higher ratio of pedigreed institution qualifications, the majority of PG qualifications even at the senior talent level (60%) are from non-premier institutions.

Unstop's Aggarwal said, "Many individuals build strong skillsets through self-learning, internships, bootcamps, or real-world experience. A formal degree may not always capture their potential or capabilities. Some of the most talented students may not have the right means and guidance to find their way to top colleges and universities. But when given the opportunity, they have the hunger and resilience to grow and make an impact".

According to the experts from staffing firms, the future of hiring in India is firmly rooted in capability, not credentials. As AI and automation transform workplaces, traditional degrees will become just one of many indicators of employability.

"The workplace of the future will be far more meritocratic, agile, and inclusive — and that’s a win for both employers and the vast, under-tapped talent pool across India," Rooj added.

Beyond IITs and IIMs: The rise of alternative talent in India's startup scene

Amid the looming job crisis due to the rapid advancements in the Artificial Intelligence (AI) technology, Perplexity AI Chief Executive Officer (CEO) Arvind Srinivas has shared a piece of advice for Indian engineers at the News18 Rising Bharat Summit 2025.

Recently, a couple of AI startups crossed millions of dollars of Annual Recurring Revenue (ARR) but with only a handful of workforce, including Perplexity. AI companies have brought a significant shift in the hiring trend in the startup ecosystem. Traditionally, funding rounds of startups used to coincide with the huge demand for engineers, full-stack developers, resulting in a salary boom. However, AI-led firms are building 10X better products with only a handful of engineers.

For instance, the Silicon Valley-based Midjourney achieved $200 million in ARR with just 11 employees, while Bolt crossed $30 million in ARR with 20 staff.

<a href="https://www.storyboard18.com/how-it-works/positively-provocative-meant-to-instigate-to-build-says-perplexity-ai-founder-on-piyush-goyals-deep-tech-remark-61896.htm">'Positively provocative, meant to instigate entrepreneurs,' says Perplexity AI CEO on Piyush Goyal's deep tech remark</a>

Against this trend, Perplexity CEO has advised Indian engineers to upskill themselves in the AI field as much as possible.

Srinivas said to aspire tech entrepreneurs, "If you are not using AI while writing code, you are essentially stagnating yourself by sticking with old workflow and tooling".

<a href="https://www.storyboard18.com/how-it-works/sanjeev-bikhchandani-hits-back-at-startup-critics-founders-take-a-risk-we-should-be-grateful-61881.htm">Sanjeev Bikhchandani hits back at startup critics: 'Founders take a risk, we should be grateful'</a>

Srinivas explained that using AI for code can help engineers find projects, help in executing new ideas into production, and achieve millions of dollars in annual revenue recurring.


While Srinivas sees endless possibilities in AI, he also cautioned that "there's going be a transition time and people who don't want to adapt, will definitely face some difficulties".

On the intention of Perplexity AI's hiring in India, Srinivas clarified that his company has not hired anyone right now.

"We have received tons of applications. While we expected people with some experience in job profiles, like general managers or business development, to apply, we saw a wide array of people with different sets of skills applied. We have halted the hiring for a while but will resume when we plan to expand," Srinivas said.

He also spoke on the fast-changing AI world and why it's crucial for founders to work harder. He said that the AI industry moved faster in the past 3 months for him than his first two years of starting Perplexity. "This was partially because of China's DeepSeek and other AI models entry in the global market. Therefore, in this industry , there's no subsitute to hardwork".

Srinivas said that he tries to work whole time when he is awake. Citing a quote of Jens Wang, Srinivas said, "I wake up, I work, and even when I'm not working, I think about work".

On the pricey subscription of Perplexity in India, which is currently priced at $20, Srinivas stated that he would be reducing the cost to some amount.

"A lot of consumer subscription apps such as Netflix and Amazon have adopted strategy and we are also trying to figure it out to create a lower and a higher tier plan for the Indian market".

'Start using AI...' Perplexity CEO Aravind Srinivas' advice to Indian engineers amid AI-led job losses

While Union Commerce Minister Piyush Goyal and standup comedian Kunal Kamra may seem like an unlikely pair, they share a common concern —their views on Indian startups.

Goyal's sharp speech on the Indian startup ecosystem has already taken the internet by storm, but Kamra expressed similar concerns in his 'Naya Bharat' episode weeks ago.

Kamra, in Hindi said, "China ki problem hai ki bophot achha tech ho raha hai waha pe. China ne ana AI tech banaya DeepSeek jisne bade stocks ko giraya. Humare paas Astrotalk chod ke kuch tha nahi (China's problem is they are rapidly advancing in technology. They have developed an AI technology called DeepSeek, which led to a significant decline in the stocks of major tech giants. In contrast, India has nothing apart from Astrotalk).

<a href="https://www.storyboard18.com/special-coverage/piyush-goyal-slams-indian-startups-for-focusing-on-fancy-ice-cream-while-china-develops-chips-61350.htm">Piyush Goyal slams Indian startups for focusing on 'fancy ice-cream' while China develops chip</a>s

During the ongoing Startup Mahakumbh session, Goyal indirectly slammed India's food delivery and quick commerce startups, such as Zomoato, Swiggy, Blinkit, Zepto, etc for promoting the gig economy model.

"What are Indian startups doing today? They're focused on turning unemployed youth into cheap labour so that the rich can get their meals without moving out of their house".

Comparing with China, he added, "The other side is working on developing electric mobility, battery technologies and dominating the electric mobility system".

Further, he took a jab at ice cream businesses in India, saying, 'that the children of billionaires are engaged in making "fancy ice creams and cookies'. He then posed the question, "Is this the destiny of India?"

Goyal emphasized, "Selling fancy ice cream with attractive packaging is not a startup, but rather an entrepreneurship and business".

He contrasted this with China's focus on developing AI domestically and experiencing growth in the semiconductor sector. "They're investing heavily to become self-reliant", he asserted.

Meanwhile, Zepto co-founder Aadit Palicha shared a rebuttal to the critique of the Indian startups. He claimed that India's consumer internet startups are vital for innovation. 

Palicha on the X platform wrote, "It is easy to criticize consumer internet startups in India, especially when you compare them to the deep technical excellence being built in US/China. The reality is this: there are almost 1.5 Lakh real people who are earning livelihoods on Zepto today - a company that did not exist 3.5 years ago. Rs 1,000+ Crores of tax contribution to the government per year, over a billion dollars of FDI brought into the country and hundreds of crores invested in organizing India's backend supply chains (especially for fresh fruits and vegetables). If that isn't a miracle in Indian innovation, I honestly don't know what is.”

Comedian Kunal Kamra's take on Indian startups echoes in Piyush Goyal's scathing critique of startups

Apple’s iPhones could soon see a dramatic price increase due to the latest round of tariffs imposed by former U.S. President Donald Trump. Analysts predict that if Apple passes on the additional costs to consumers, prices could rise by 30% to 40%, making the top-end iPhone 16 Pro Max nearly $2,300.

Most iPhones are manufactured in China, which has now been hit with a 54% tariff. While Apple previously secured exemptions during Trump’s first term, no such relief has been granted this time. As a result, the company faces a difficult choice—either absorb the costs or raise prices.

Apple’s stock fell over 8% following the tariff announcement, marking its worst trading day since 2020. With iPhone sales already slowing, analysts believe Apple may struggle to pass on more than a 10% price increase to customers. Some production has shifted to India and Vietnam, but these countries are also facing levies of 26% and 46%, respectively.

Industry experts warn that higher prices could weaken Apple’s competitive position, benefiting rivals like Samsung, which faces lower tariffs. If Apple raises prices to cover the import duties, the company could take a $40 billion hit. Analysts believe negotiations between Apple, China, and the White House are inevitable, as the impact of these tariffs could be severe for the tech giant.

<a href="https://www.storyboard18.com/digital/trump-considers-reducing-china-tariffs-to-secure-tiktok-deal-60444.htm">Read More: Trump considers reducing China tariffs to secure TikTok deal</a>

Could Trump’s tariffs push iPhone prices to $2,300?

Union Minister of Commerce Piyush Goyal took an indirect jab at Zomato, Swiggy, Zepto, Blinkit, and other food delivery and quick commerce startups in his speech at the Startup Mahakumbh 2025 on Thursday. The minister shared a slide comparing ideas between Indian and Chinese startups. He stated, "Some people will criticize me for comparing India with other nation (China). But I have no complaints. We must be willing to evolve, learn, and aspire to be bigger and better".

Goyal cited a list of businesses invented by Indian startup founders, such as quick grocery delivery, food delivery, and making "fancy ice creams and cookies". He expressed his disappointments, saying, "It depresses me a lot to see this".

Goyal further questioned the focus of Indian startups, stating, "What are Indian startups doing today? They're focused on turning unemployed youth into cheap labour so that the rich can get their meals without moving out of their house".

Comparing with China, he added, "The other side is working on developing electric mobility, battery technologies and dominating the electric mobility system".

While discussing the trend of 'gluten-free', 'vegan', and 'zero-sugar' ice creams, Goyal mentioned that the children of his billionaire friends are engaged in making "fancy ice creams and cookies". He then posed the question, "Is this the destiny of India?"

Goyal emphasized, "Selling fancy ice cream with attractive packaging is not a startup, but rather entrepreneurship and business".

He contrasted this with China's focus on developing AI domestically and experiencing growth in the semiconductor sector. "They're investing heavily to become self-reliant", he asserted.

Goyal asked entrepreneurs, "Will India choose to make 'chips' or 'ice cream'?", The decision depends on today's generation.

The minister took a jab at boAt co-founder Aman Gupta, saying, 'Please change your perspective on Shark Tank'. Gupta is one of the judges in the Shark Tank  India reality show, where aspiring entrepreneurs pitch their business models to a panel of investors.

On the instant grocery model, Goyal said he has no issue if a company gets listed at a few billion dollars, but he wished to have more Indian investors in the game rather than foreign investors.

On Deeptech startups, Goyal said it is disturbing that India has only a thousand of them. While the other side (China) is doing robotics, automation, machine learning, and preparing themselves for 3D manufacturing. 

Goyal said, "Wealth creation in the short run may happen with these conveniences". However, Indian entrepreneurs should not focus on 'running a business'.

"I can't take delegates of other countries to our grocery store and say this is India offering for startups," Goyal added, "India's ambition should be to compete with the best of the world".

The Startup Mahakumbh kicked off on Thursday in Delhi. This year’s theme focuses on the journey and vision of India's startup ecosystem over the next two decades, aiming to shape a self-reliant and innovative and Viksit Bharat by 2047.

Piyush Goyal slams Indian startups for focusing on 'fancy ice-cream' while China develops chips

Speaking at the Storyboard18 Global Pioneers Summit, India’s Union Minister of Communication, Jyotiraditya Scindia, expressed confidence in the nation’s economic trajectory, asserting that the country is crafting a fresh narrative—one that seamlessly integrates its rich heritage with cutting-edge innovation.

“India is offering the world a unique value proposition, intertwining environmental consciousness with entrepreneurial dynamism,” Scindia said, addressing the audience in Mumbai. His remarks underscored the country’s evolving role on the global stage, moving from a participant to a leader in economic transformation.

The timing of the Global Pioneers Summit, he noted, is particularly significant. “India stands at an inflection point in history,” the union minister said, emphasizing that Prime Minister Narendra Modi’s Viksit Bharat Vision 2047 has become a shared national commitment, uniting 1.4 billion citizens in the pursuit of growth and innovation.

The Viksit Bharat Mission, he explained, serves as a blueprint for India’s ascent to the world’s third-largest economy by 2029, with aspirations to reach a $6 trillion valuation by 2030. “This vision is underpinned by bold economic reforms, expansive infrastructure projects, and a sweeping digital empowerment initiative,” he said.

A Surge in Innovation and Entrepreneurship

Pointing to India’s remarkable progress in the Global Innovation Index, Mr. Scindia highlighted the country’s leap from the 81st position a decade ago to 39th today. Such advancements, he suggested, reflect the government’s commitment to fostering innovation and supporting entrepreneurs at every stage of their journey.

The nation’s startup ecosystem has also seen explosive growth. “India is now home to over 100,000 new enterprises - a staggering rise from just 350 a decade ago,” he said. The entrepreneurial surge, he noted, is powered by a commitment to inclusivity, ensuring that business development uplifts allied sectors and creates widespread opportunities.

Government-backed initiatives, such as public and private incubators and targeted financial programs, have played a crucial role. Scindia pointed to the expansion of the Pradhan Mantri Mudra Yojana, where the loan limit for small businesses has been raised from Rs. 10 lakh to Rs. 20 lakh, as an example of the administration’s ongoing support.

Space, Social Media, and the Future of India’s Economy

Illustrating India’s resourcefulness, Scindia referenced the Chandrayaan-3 mission, which was completed for just $75 million—a fraction of the budget spent by other space agencies around the world. “This is a testament to India’s ability to do more with less,” he remarked.

The minister also noted the transformative role of social media in India’s economy. “It has become a launchpad for entrepreneurship, storytelling, and artistic expression, fueling the creative economy,” he said. With the expansion of 5G and the domestically developed 4G stack, led by Bharat Sanchar Nigam Limited (BSNL), India is positioning itself at the forefront of the digital age, he added.

A Moment of Recognition and a Call to Action

At the summit, Scindia also recognized corporate leadership, honoring Hina Nagarajan, Managing Director of Diageo India, for her contributions to the business landscape. Closing his remarks, he invoked the words of Prime Minister Modi: “Yahi Samay Hai, Sahi Samay Hai” - This is the right time.

“This is India’s century,” Scindia declared. “Innovation is our Brahmastra [ultimate weapon], and Viksit Bharat is our Dharma [guiding principle].”

As India continues its rapid transformation, its leaders remain confident that the nation’s blend of tradition and modernity will propel it to new heights on the world stage.

<a href="https://www.storyboard18.com/tags/global-pioneers-summit">#GPS2025: CATCH THE FULL COVERAGE</a>

More about the Storyboard18 Global Pioneers Summit

The Global Pioneers Summit is a celebration and exploration of the transformative potential of creativity, empowering individuals and businesses to think differently, act boldly, and craft a future that resonates with purpose and vision. Creativity is not just about artistic expression — it is a force for solving real-world problems, innovating products, and creating connections in ways that traditional methods cannot. And there are pioneers behind this shift, who have dared to think different.

The Global Pioneers Summit stands as a premier celebration of the visionary forces propelling businesses forward, spotlighting the global brands emerging from India — an ever-growing hub of creativity and innovation on the world stage. From groundbreaking innovations to impactful storytelling, key decision-makers and innovators from business, marketing, advertising, tech, and academia exchange insights, build connections, and draw inspiration from some of the most compelling work driving industries forward globally.

In today's rapidly evolving world, creativity can be a powerful force to drive business growth, shape industries, and influence societal behavior, culture, and values. Storyboard18 Global Pioneers Summit puts the spotlight on the true purpose and power of creativity and the pioneers leading the way.

WATCH THE FULL ADDRESS HERE:

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'India rewrites global script by blending tradition with modern tech,' says Union Minister Jyotiraditya Scindia at Storyboard18 GPS 2025

Indian startups have regained the confidence of the venture capitalists with funding rebounding to $13.7 billion in 2024--an increase of 1.4 times compared to the 2023 levels.

According to the India Venture Capital Report 2025, developed by Bain & Company in collaboration with the Indian Venture and Alternate Capital Association (IVCA), India emerged as the second-largest VC destination in the Asia-Pacific region in 2024. 

Indian startups secured 1,270 deals in 2024 compared to 880 in 2023--up 45 percent. The study highlighted that strong domestic fundamentals, progressive regulatory reforms, and rising public market activity led to successful deals. 

Notably, small and medium ticket deals (less than $50 million), accounted for 95 percent of the deals. Additionally, deals above $50 million doubled, rebounding to the pre-pandemic levels as high-quality assets attracted deployment. Zepto, Meesho, and Lenskart were among the prominent brands that secured over $50 million deals in 2024.

In contrast, the average size of mega deals, above $100 million fell by 20 percent as investors and founders adopted a more conservative approach.

'Sectors funding'

Tech-first sectors, comprising consumer tech, software, SaaS, and fintech captured more than 60 percent of the VC funding in 2024. Consumer tech became the largest sector with funding rising to $5.4 billion, driven by business-2-consumer (B2C) commerce, travel tech, gaming, and edtech.

“Looking beyond 2025 and at the long term, India’s VC ecosystem is primed for sustained expansion, fueled by consumption tailwinds, progressive regulations, and rapidly advancing digital infrastructure," Prabhav Kashyap, Partner at Bain & Company said. Kashyap has expressed confidence in funding to the green shoot sector companies, added, "semi-conductors, energy transition, and deep tech are poised to attract heightened interest and support".

The VC and growth funding in SaaS, software, and generative artificial intelligence jumped to $1.7 billion in 2024 as more high-quality scaled assets entered the market. The GenAI funding grew 1.5 times in the same year, with application platforms attracting most of the interest.

Furthermore, traditional sectors such as banking and financial services, and consumer/retail, also witnessed sharp funding growth fueled by untapped demand, underlying strengths, and favourable socioeconomic tailwinds.

The fund-raising activity declined by 35 percent to $2.7 billion, the lowest since 2020 due to the accumulation of dry powder (amount of committed, but unallocated capital). Against this backdrop, maiden funds rose in prominence, comprising nearly one-third of the VC/growth capital raised compared to 25 percent in 2023.

The exit activity remained steady in 2024, surging up to $6.8 billion. The Initial Public Offerings (IPOs) surged seven-fold as several venture-backed companies successfully listed last year.

"India's startup ecosystem continues to mature, with a clear shift towards sustainable growth, innovation, and regulatory alignment. The policy reforms introduced in 2024—eliminating the angel tax, simplifying FVCI registrations, easing exits, and ensuring taxation parity —have bolstered investor confidence, setting the stage for a dynamic 2025. As dry powder remains available, we anticipate increased deal activity, particularly in growth-stage investments, fuelling strong consumption trends and supporting an evolving digital economy," added Rajat Tandon, President, IVCA.

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