We Should Have Done Better: Paytm CEO on Learning from the Past

Paytm CEO: Vijay Shekhar Sharma, the founder of Paytm, has praised the Indian government for creating a nurturing environment for startups. He emphasized how Prime Minister Narendra Modi’s leadership has been pivotal in providing the right opportunities for new businesses to launch and grow.

Applauding Government Support

“Under Prime Minister Modi’s leadership, this is the perfect time for startups to flourish. The government is constantly recognizing and encouraging the entrepreneurial spirit of India’s youth,” Sharma said. He highlighted the rapid growth of the startup ecosystem, which is positioning India on a strong path towards 2047. Sharma also noted India’s established reputation in IT services and software, now complemented by a booming startup and innovation culture.

Addressing Employee Turnover

When asked about the recent departures of senior employees from Paytm, Sharma confidently responded, “All is well and all is rocking.” He made these comments during the JITO Incubation and Innovation Foundation (JIIF)’s Innovation Conclave on July 6.

Event Highlights

At the JIIF Innovation Conclave, themed “Ideas to Impact: Cultivating Innovation and Entrepreneurship,” Sharma discussed the significant advancements made under Modi’s leadership. He pointed out that India’s startup ecosystem, now the third-largest globally, is helping many entrepreneurs turn their dreams into reality with innovative business practices.

Sharma also highlighted government initiatives that support startups in exploring new areas like artificial intelligence (AI), which aim to develop ideas that simplify and revolutionize everyday life.

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Paytm CEO: Learning from the Past

Sharma acknowledged that Paytm has learned important lessons and admitted that they could have handled some responsibilities better. “We were maturing, moving towards full profitability, and generating free cash. Professionally, we should have done better, and that’s no secret. We had responsibilities and should have fulfilled them more effectively. We’ve learned our lesson,” he said.

Paytm CEO: Infrastructure Development

Sharma also praised the current government’s focus on infrastructure, noting significant improvements in road and airline connectivity over the past decade.

JIIF Innovation Conclave

The JIIF Innovation Conclave featured notable speakers like Aadit Palicha, Co-founder and CEO of Zepto, and Sanjeev Bikhchandani, Founder of Infoedge. The event attracted over 300 angel investors, 100 startups, 30 unicorns, and numerous international investors, providing a unique platform for entrepreneurs to connect with investors and industry experts.

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