Zia Mody, Co-founder and Managing Partner of law firm AZB & Partners, stated that India’s entrepreneurship journey has gained worldwide acclaim, leading to increased interest from foreign investors in domestic companies.
The number of unicorns in 2022 was 44, while in 2023 there were only one or two, but Mody believes that the global recognition of Indian entrepreneurship will attract more foreign investment. This support is driven by successful entrepreneurs and the potential of young individuals to create value, ensuring a continued interest from investors in the future.
Speaking with Anant Goenka, the Executive Director of The Indian Express group, Mody expressed confidence in the potential for progress in the current decade.
He emphasized the importance of maintaining good governance to capitalize on factors like demography, democracy, and the aspirations of the youth.
When asked about the challenges facing four top startups – Dream11, Paytm, Byjus, and Ola – Screwvala stated that every business group experiences ups and downs, and it wouldn’t be fair to single out a few.
He mentioned that governance develops with time and is influenced by the investors involved. Screwvala highlighted his concerns about the sense of entitlement among entrepreneurs and the success overshadowing the true meaning of life.
He also emphasized the increasing income inequality in the country, calling for more attention to wealth balance and income equality for India to progress as a fully developed nation.
Swati Piramal, Vice-Chairperson of Piramal Group, was honored with the lifetime achievement award this year. Ananya Birla, Roshni Nadar Malhotra, along with other exceptional winners, were recognized for their significant contributions in their respective fields.
The list of winners also included Deepika Padukone, Renuka Ramnath, Zoya Akhtar, Reema Kagti, Meher Pudumjee, Laila Tyabji, Jyotsna Suri, Indu Shahani, Meena Ganesh, Ghazal Alagh, and Vineeta Singh in various categories. Avarna Jain was selected as a promising FICCI-FLO entrepreneur.
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