From ambition to execution

The transition from digital India to a powerful deeptech India will represent a crucial maturity milestone, signalling that we are ready to co-author the future of foundational tech

- NIKHIL KAMATH

INDIA'S STARTUP ECOSYSTEM has undergone a quiet but decisive transformation over the past decade. In 2010, when Zerodha started, India had fewer than 1,000 recognised startups. Today, we have crossed 2.3 lakh.

Indian entrepreneurs are no longer just service providers to the world. They’re solving problems that have traditionally required imports, building defensible intellectual property (IP) at home, and competing globally.

Not long ago, the Indian startup narrative was all about building software cheaper, supporting Western companies better, and optimising margins. Today’s ambition is significantly different. Founders are asking—what have we historically imported that we could own? What can we build in India that has not been attempted before?

In defence, startups are developing indigenous imaging systems previously unavailable domestically. In semiconductors, we’re designing chips, the capability we had outsourced in the past. In renewable energy, deep tech ventures are engineering battery storage and systems that compete with international alternatives. In manufacturing, precision-engineering startups are designing critical components.

Clearly, Indian startups are no longer building service layers. They’re identifying gaps in critical infrastructure and building defensible IP around them. This shift has been driven by four key developments.