Fintech in India: Fintech Survives In The Frenzied Indian Economy

There are numerous disparities in India, for instance, both uncritical acceptance in astrology and technological applications exist side by side. Such coexistence represents the diversity of the country, a unique quality that intrigues global stakeholders. Surprisingly, the start-up network manages to evolve amid low literacy and income levels. India seconds the US as far as startup ecosystem is concerned. But when it comes to unicorns, there are 10 of them as compared to 56 in China and 100 in the US. That is why venture funds are short of India given its potential and size. Note that the country is number 28 in the VP and PE allure, ranking behind Austria and Thailand.

The obscure and transitional regulatory and taxation rules plus the absence of legitimate and civilized administration are the main rationales for India’s low ranking position. Obviously, the world would expect the country to remain behind the major economies as far as startups go. Nonetheless, there are more than 16,000 startups on board with a growth rate of 25% per annum, which is a noteworthy aptitude. This is the mystery of the Indian startup ecosystem.