Industry experts believe the need of the hour is to keep the economy flexible in terms of patient capital to keep the cash-flow ongoing.
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It is not untrue to say that the Digital India Initiative is primarily being driven by entrepreneurs. In fact, startups have been a major driver for growth in the country's economy for a long time.
Speaking about what will be the drivers of growth in the years to come, a panel discussion was held in the recent Young Entrepreneur Awards and Summit 2020 by BW Businessworld. The esteemed panellists present were Mehul Agrawal, Co-Founder & COO, Cars24 Services; Deep Bajaj, Founder, Sirona Hygiene; Saket Agarwal, Founder & Managing Partner, Onnivation Ventures; Gaurav Kumar, Founder & MD, Vivriti Capital; Abhishek Kothari, Founder, Flexiloans.
The industry experts agreed that in the times to come, the technology will evolve even further, 5G networks too will plunge in; therefore, start-up community along with established businesses will have to think of out of the box to adapt to changes very easily and quickly.
Indeed, businesses across all industries are now dependent upon how digitized and easily accessible their product offerings are to the consumer base. Kothari explained that the Indian economy is also required to adorn the hat of a patient capital which as of now is not. (Patient capital is another term for long term capital) The experts acknowledged, "We cannot go on thinking about smart cars if we don’t have smart roads. So, the need of the hour is to keep the economy flexible in terms of patient capital to keep the cash-flow ongoing."