Bengaluru: India is predicted to raise a dozen billionaires and millionaires by 2020, predicts ASSOCHAM. As per the ASSOCHAM report, the country is relied to be the top Asian startups, along with the Chinese and the South East countries.
Incorporated in 1920 by promoter Chambers, the knowledge architect of corporate India, ASSOCHAM represents all regions of India. The firm aims to empower Indian enterprises by inculcating knowledge that will be the catalyst of growth in the barrier-less technology-driven global market and help them upscale, align and emerge. Currently, the firm has more than 100 National Committees covering the whole scope of monetary exercises in India.
Concerning the latest study, the highest value creation is expected in the e-Commerce, music-entertainment, payment gateways and city transport aggregators like radio taxis. However, within e-Commerce, a lot more verticals well beyond groceries, fashion and electronic items like mobile phones are expected to be created. Not only this, but it is also expected to create a high-value growth in travel pitch, especially in the ticketing and booking.
The paper additionally noted, “Despite the fact that market controller SEBI is putting try for new businesses to lift up the finance from the bourses yet, it would take eventually before funds are raised through this channel. On the other hand, the angel investors include top industry leaders like Ratan Tata, Azim Premji and N R Narayan Murthy”.
Speaking about the issue, D S Rawat, Secretary General, ASSOCHAM says, “Even though there are question marks on the kind of valuations some of the start-ups command, at least in India, we do not see any bubble like situation and the interest from the angel investors is expected to continue”.