India is proving it can attract customers from across the globe interested in world-class products
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A recent report from Bain & Company confirmed what many of us who are part of the tech scene in India have known for some time: The country that was once known only for its plethora of consultants and IT and support services is now a product nation.
Looking solely at Indian cloud software companies, Bain documented a dozen public offerings or acquisitions in 2021, including my own, Freshworks, which IPOed in September. Bain counted more than 250 new Indian SaaS (software as a service) startups created by former employees of established cloud software firms. SaaS firms in India employ more than 62,000 people, which enriches the local ecosystem and will invariably lead to future entrepreneurs founding more product companies!
India is proving it can attract customers from across the globe interested in our world-class products (Freshworks sells software products in more than 120 nations). A new generation of entrepreneurs is showing that we excel at building software products at the same time we are helping create a new tech landscape. As someone who in recent years has spent a lot of time in Silicon Valley—and has headquartered his Indian-founded company in the “promised land” for tech companies—I see a new kind of startup emerging that is fundamentally Indian in personality and style.
(This story appears in the 14 January, 2022 issue of Forbes India. To visit our Archives, click here.)