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Paytm Founder Says Surge in Valuations for Indian Startups Is Here to Stay

  • Many are underestimating the India opportunity: Sharma
  • Investors poured in $7.6 billion into Indian fintechs in 2021

The wave of surging valuations for India’s technology startups is here to stay as the country offers a great opportunity in terms of growth, according to the founder of the Indian online payments pioneer that raised funds in the nation’s biggest initial public offering ever.

Indian startups are not overpriced and “many are underestimating what India’s opportunity will be,” Vijay Shekhar Sharma, founder and Chief Executive Officer of Paytm that raised $2.5 billion in an IPO this week. “If we go by anything that happened in the US, China, or other parts of the world, including Indonesia, India is an opportunity which will dwarf many other countries’ startup or technology ecosystems,” he said at the Bloomberg India Economic Forum, Thursday.