Indian Startups Fueling Economic Growth, Says Zupee CEO

Dilsher Malhi, Founder and CEO of online gaming platform Zupee, highlighted the transformative role of startups in India, positioning the nation for significant economic growth at the India Internet Governance Forum (IIGF) 2024 on Monday.

Malhi emphasized how startups are reshaping experiences across various sectors, including education, healthcare, travel, and entertainment.

"India has emerged as the world's third-largest startup ecosystem, and this achievement is largely driven by a robust digital public infrastructure, such as UPI and Aadhaar, along with widespread mobile penetration. With the Bharat 6G vision, the semiconductor mission, and AI advancements, startups are setting India on a path toward exponential economic growth," Malhi said.

A major highlight of his address was the evolving role of startups, which are increasingly shifting from offering immediate solutions, or "painkillers," to delivering enriching, long-term experiences that enhance overall well-being—what he called "vitamins."

This shift, Malhi noted, reflects a broader perspective of measuring prosperity not just by GDP, but through the concept of Gross Wellness Quotient (GWQ).

Malhi also discussed the significant impact of tech-driven innovations that have emerged from startups. He pointed to Nvidia, which began by creating chips for online gaming but has since become one of the most valued companies globally.

He cited studies showing the broader applications of gaming technology, such as its use in medical training for surgeons and its role in reducing emissions in industries like oil and gas through augmented and virtual reality (AR/VR) technology.

"Gaming tech is not limited to entertainment; it is making an impact across industries like education, cybersecurity, and financial services," Malhi said. "For example, advanced game engine technology is helping train surgeons, and AR/VR is being utilized to cut travel time in the oil and gas sector, reducing emissions."

Further, he discussed the disruption of traditional e-commerce models by Indian startups, noting how the instant delivery model is reshaping the industry and challenging foreign players’ dominance in the market.

The IIGF 2024, organized by the Ministry of Electronics and Information Technology (MeitY) and the National Internet Exchange of India (NIXI), is being held from December 9-10, 2024. The forum serves as a platform to discuss critical issues related to the Internet and its governance in India.

Malhi’s insights underscore the growing influence of Indian startups in driving not only technological innovation but also contributing to the nation's broader economic and social progress.