Zepto CEO credits Modi govt for mushrooming of start-ups

NEW DELHI: Aadit Palicha, Co-Founder & CEO of Zepto on Monday credited Modi government for creating an 'enabling' atmosphere for mushrooming of start-ups and expressed optimism that the the greenhorn businesses will power the next phase of growth.

Speaking to the media persons on the sidelines of the NDTV World Summit, Aadit Palicha said, "This is India's century. Thanks to the government's work in providing the infrastructure needed to build such exceptional companies, we are working hard to create impactful businesses in India that will employ hundreds and thousands of people and contribute to the country's economy."

He acknowledged the supportive environment for startups in India, stating, "We're fortunate to be in a country with immense opportunities and a government that supports innovation. Most of the startup ecosystem has flourished in the past decade, from 2012 to 2024."

Palicha highlighted the emergence of high-quality companies in public markets, emphasising that this success is rooted in investments, technological advancements, and initiatives like digital public infrastructure.

"At Zepto, most of our transactions are conducted via UPI, demonstrating how such initiatives have facilitated our growth," he noted.

He added that the ability to provide seamless consumer experiences and attract talent and capital has fueled Zepto's growth.

"With significant outcomes now visible in public markets, we expect more capital and investment to flow into the next wave of startups, spurring innovation, value creation, and high-quality job opportunities," Palicha stated.

He further underlined that this continuous cycle of innovation and job creation is a critical component of any developed economy, stating, "With the first significant outcomes occurring in public markets, we anticipate more capital and investment flowing into the next stage of startups, creating a cycle of increased innovation, value, and high-quality job creation."

"India is well on its way to achieving this in the next 20 to 25 years," he added.

"We're glad to see representation for tech startups and hope to encourage more entrepreneurs to start technology companies in India. This growth will benefit everyone," Palicha concluded.