Zia Mody Highlights India's Growing Startup Ecosystem at Express Awards

By: WE Staff | Thursday, 21 March 2024

Zia Mody, Co-founder and Managing Partner of AZB & Partners, expressed confidence in the continued growth of India's startup ecosystem. Speaking at the Express Awards for Women Entrepreneurs, Zia highlighted the rise of unicorns in India and the influx of foreign capital supporting young entrepreneurs. She emphasized the importance of governance in sustaining this growth trajectory.

During the panel discussion, Zia, along with other industry experts such as Anant Goenka and Ronnie Screwvala, discussed the potential challenges faced by four prominent startups: Dream11, Paytm, Byjus, and Ola. However, Screwvala noted that every industrial group experiences ups and downs, and it would be unfair to focus solely on a few companies. Highlighted the importance of governance and the role of investors in shaping a company's direction. He emphasized that governance is a two-way street and requires both maturity from the entrepreneurs and responsible investment practices.

The Express Awards for Women Entrepreneurs, instituted by Financial Express in collaboration with FICCI-FLO, aims to celebrate the success of women entrepreneurs in India. The third edition of the annual event highlighted the opportunities and challenges of India's startup ecosystem and emphasized the need for continued support and good governance to sustain growth in the sector.

Zia 's optimism stems from India's favorable demographics, democratic system, and a motivated and aspirational youth population. She believes that if India stays the course and maintains good governance, the nation's entrepreneurial potential will continue to thrive.

With 44 unicorns in 2022, India's startup ecosystem has shown remarkable progress on the global stage. The interest and investment from foreign sources further validate the talent and value young Indian entrepreneurs bring to the table. India's decade of success, as Zia puts it, relies on nurturing this entrepreneurial spirit and ensuring a conducive environment for growth.

The prestigious lifetime achievement award was presented to Swati Piramal, Vice-Chairperson of the Piramal Group, recognizing her significant contributions in the business world. Other notable winners included Ananya Birla as the newsmaker, Roshni Nadar Malhotra as the legacy entrepreneur, and several other individuals who have made a mark in their respective domains through their pioneering efforts.

The event also honored notable personalities such as Deepika Padukone, Renuka Ramnath, Zoya Akhtar, Reema Kagti, Meher Pudumjee, Laila Tyabji, Jyotsna Suri, Indu Shahani, Meena Ganesh, Ghazal Alagh, and Vineeta Singh in various categories. Additionally, Avarna Jain was recognized as a promising FICCI-FLO entrepreneur.

The Express Awards for Women Entrepreneurs not only celebrate the achievements of successful women in entrepreneurship but also provide a platform to discuss important issues and advocate for a more balanced and inclusive society.