Indian Fintechs raised nearly $10 bn in the last decade:Indian fintechs have attracted close to $10 billion in equity capital funding, over the past decade, with digital payments and lending startups being the largest recipients in this sector. As per the report titled ‘100 Unicorns: India’s changing corporate landscape’, India is home to the third-largest set of unicorns globally, behind the US and China, which command a total valuation of $90 billion as per a report from livemint. Fintechs, including e-commerce, have been leaders in the Indian unicorn landscape, with the sector spawning five unicorns having an aggregate valuation of $22 billion.
Paving the way to a billion-dollar economy :India is amongst the fastest growing fintech market in the world. Despite making it big in recent years, the industry is now setting up new goals for other countries. Indian fintech companies are leveraging new technologies to address financial service-increase outreach, improve customer experience, reduce operation friction and foster adoption and usage of digital channels. The industry was valued at US$65 billion in 2019 and is expected to grow to US$140 billion in 2023 at a CAGR of 20% during the forecast period a s per a report from analyticsinsight
Meteoric Rise of AI Unicorns in India – As per a report jointly released by TiE Delhi and Zinnov, the number of unicorns in India is expected to rise to 100 by 2025. AI and Analytics startups in India attracted a total of $836.3 million in funding in 2020 — the largest in seven years with 9.7 percent year-on-year growth. Health care, data analytics, retail tech, retail tech and gaming sector has seen the maximum number of startups. Also, KPMG report showed India’s private equity and venture capital funding has doubled in the last five years. The deeptech adoption is on the rise and is expected to accelerate further in the coming years.
India Tightens Grip on Big Tech: India joins global elite in curbing the power of social media giants. Silicon valley’s role in freedom of speech was deeply questioned. Late last month, Facebook and Google got in a standoff with the Australian government for a law that needs them to pay to the content creators. Now, India wants to have a better grip on all things internet. From social media to OTT content, the government wants to discourage malicious dissent. The new rules came into immediate effect that will require the likes of Facebook and Twitter to take down unlawful content quicker. “Messaging apps can be asked to provide the identity of the originators of unlawful messages on their platforms,” said IT Minister Ravi Shankar Prasad. Whereas, Streaming services such as Netflix , YouTube and Amazon Prime Video face stricter oversight over content as per straitstimes