Indian entrepreneurs are solving problems for India and are not competing with businesses from China and elsewhere, Kunal Bahl, co-founder and CEO, Snapdeal said at a Make in India Week session on disrupters at the CNN Asia Business Forum.
To a question on why start-ups in India copy models and are not innovative, Bahl said even though the models might be the same, Indian entrepreneurs are solving unique problems. He cited his company's focus on solving the bigger problem of offering multilingual services.
“India needs localised innovations. Yes, it might be a bubble and many won’t survive. Those which do will change the rules of the game. From a bubble emerges new business models,” Bahl said, adding there are companies trying to solve different problems for India, citing food delivery start-ups as an example. He also said Indian regulations are dated and need to keep pace with new-age companies. “What is needed is simplification of regulations and not more regulations,” he said.
Bahl added that another thing which needs to be disrupted is payments after supply chain and that would be one of Snapdeal’s focus areas. “Digital commerce without digital payments is like car without wheels,” he added.
He also said there is lot of validation for the Indian start-up ecosystem now than five years ago, adding that the country needs more entrepreneurs.
