The long-awaited revival of private investment is finally here, and mostly in the startup space: R Jagannathan

(R Jagannathan is editorial director of Swarajya. This column first appeared in The Times of India on August 11, 2021)

  • Indian entrepreneurship is booming again. Led not by old-money entrepreneurs, but new money. It’s happening not despite Covid, but because of Covid. The pandemic that caused economic damage all over the world has led most governments to provide enormous stimulus support to flagging economies, and this easy money has triggered a stock market boom and channelled a flood of ‘patient’ equity into companies, both old and new. Seven years after struggling to revive growth, the Narendra Modi government is set to preside over a likely investment boom led by private capital. Even as China is busy trying to push its hegemonic political vision and cut its own tech billionaires to size (Alibaba, Didi, etc), India is benefiting as global capital quietly seeks to balance China risks with parallel investments elsewhere, including India…

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