“First, we focus on India. If we get it right here, going global will be easier. India is like a mini Europe with diverse languages and cultures. Solve for India, and you solve for the world,” said Himanshu Gupta, Co-Founder and COO of WeRize, a financial services company.
WeRize functions like an e-commerce site but offers a range of financial services to the “Bharat customer.” These services include personal and business loans, digital gold, insurance, and savings accounts. At the Economic Times Soonicorns Summit 2025, Gupta discussed the importance of understanding this varied market.
He noted, “We’re targeting underserved areas while banks might be around. Access to financial services is often limited. India has created an excellent financial platform with systems like UPI (Unified Payments Interface). We are ahead by decades compared to traditional banking systems in the US.”
The summit aimed to clarify what global ambition means for Indian startups today. Given recent shifts in international policy, speakers also explored how India could leverage its strengths for global success.
Raghunandan G, Founder of Zolve, shared a personal story that sparked his global vision. While dining in the US, he realized that “Indians couldn’t use their credit history here.” This led to Zolve’s mission of catering to Indians moving to America.
He said, “We didn’t start with a global ambition. We identified a problem and let the market take us wherever we needed to go.” This highlights a common theme: global expansion often comes from solving local issues effectively.
When should a startup consider going global? And has AI changed the game?
Manish Arora, Co-Founder of Efficient Capital Labs, provided insight for tech startups, especially those in software and AI. “If your vision is clear, you could start in international markets,” he stated. However, Arora emphasized important factors to consider before venturing out:
- Know Your Market: Ensure your product isn’t too tailored to Indian specifics.
- Standardization: Understand your operational model and how it translates to new markets.
- Cultural Awareness: If your team isn’t familiar with local customs, it might lead to challenges.
Arora also highlighted the role of AI. “AI acts as leverage. It can speed up development and lessen the need for heavy local adaptation.” He believes India, with its cost advantages in AI, is well-positioned for global growth.
Raghunandan reinforced these ideas by stressing that the aim isn’t just to replicate Indian business models globally. He cited startups like NinjaCart, showcasing how Indian innovations are sought after internationally.
“India has developed remarkable companies. We need to share these innovations on a global scale,” he added.
When considering global ambitions, policy shifts are also essential to keep in mind. Arora discussed the “America First” approach seen during Trump’s presidency, which may complicate entry for Indian entrepreneurs. Nonetheless, tech sectors, particularly AI, remain promising.
Raghunandan remarked that the global environment is changing, with recognition of the value of immigration and trade. This situation could motivate governments to adjust their policies for startups.
Gupta pointed out India’s resilience in the face of challenges, referencing how the country thrived after crises like COVID-19. He emphasized the potential of focusing on self-reliance in technology to secure the country’s future.
In closing, he suggested that startups should prioritize local customer needs and achieve product-market fit before looking overseas.
The discussion highlighted that India’s diverse market is a testing ground for startups aiming for global success. By combining AI’s capabilities with strategic insights, Indian businesses can navigate complexities at home while preparing for international opportunities.
The Economic Times Soonicorns Summit 2025, India’s largest gathering of emerging startups, took place in Bengaluru on August 22, showcasing the country’s vibrant entrepreneurial spirit.
For further insights on startup dynamics in India, explore Economic Times.
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