Indian startups raised a total of $9.3 billion in 2020. Some of the biggest gainers were a food delivery app and a hotel booking app. Amongst those that reached ‘unicorn’ status — billion-dollar valuation — was an online fashion retailer and an online baby products company.
Prima facie, this is cause for celebrating the startup ecosystem. But scratch the surface, what you find about India’s technology sector can be summarised in one sentence: too many apps (eventually foreign-owned) and