Too many apps, no real innovation. Cute Tech is ailing Indian technology
India needs to emulate small countries like Taiwan & Israel that have built focused and niche high-tech sectors, not obsess over China and its ambitious plans.
Vinayak Dalmia 12 March, 2021 10:42 am IST Text Size:
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Indian startups raised a total of $9.3 billion in 2020. Some of the biggest gainers were a food delivery app and a hotel booking app. Amongst those that reached ‘unicorn’ status billion-dollar valuation was an online fashion retailer and an online baby products company.
Prima facie, this is cause for celebrating the startup ecosystem. But scratch the surface, what you find about India’s technology sector can be summarised in one sentence: too many apps (eventually foreign-owned) and not enough innovation. It is no surprise, then, that despite India’s engineering strength and the hype around its technology sector, the country ranks at 48 out of