How Evergrande crisis will impact India
A new housing crisis unfolding in China is reminding many investors of the 2008 Financial Crisis. Evergrande is one of the world' most indebted real estate developers struggling to meet $300 billion of repayments to lenders.
But the looming Evergrande crisis has many implications for the Indian startup ecosystem as well, given the interconnected nature of economies and markets.
Kumarpal Jain, Assistant Vice President, Finisto, a wealth-management platform, tells YourStory,
"A severe deceleration in that industry, or worse, a debt explosion, could clobber the Chinese economy negatively and impact the rest of the world, particularly Asia."
However, the crisis opens a window of opportunity for India as well. India provides investors with an attractive alternative as it is the other emerging economy with growth characteristics similar to those in China.
"There is a very strong optimism in India, and it has never been like this before. India has become a trusted destination for foreign money. This is also another reason why there are so many unicorns in the market," Sreedhar Prasad, Advisor, Analyst, ex-KPMG, and ex-Kalaari Capital, said.
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News & Updates
- D2C fresh meat brand Licious entered the coveted billion-dollar unicorn club. The startup raised $52 million in a Series G round led by IIFL AMC's Late-Stage Tech Fund, with a valuation of $1 billion. Avendus FLF (Future Leaders Fund) also invested in this round.
- Bengaluru-based ride-hailing unicorn Ola has acquired Pune-based geospatial services startup Geospoc. aims to build the next-generation location technology services with the latest acquisition.
- Car sharing marketplace Zoomcar has opened an office in San Francisco ahead of its US listing next year. The US office will further bolster Zoomcar's push to create a global car-sharing platform and prepare the company for its broader global marketplace.
- US-based dairy technology, services, and intelligence provider, Dairy.com, has made its first investment in India with the acquisition of Mr Milkman, a last-mile dairy supply chain SaaS platform.
- The artificial intelligence (AI) market in India is expected to grow at a five-year CAGR of 20.2 percent and touch $7.8 billion in total revenues by 2025, according to research firm IDC. Businesses in India will accelerate the adoption of both AI-centric and AI non-centric applications for the next five years, IDC said.
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“Although the funding for the D2C sector has grown significantly, FMCG is still not considered the most attractive category. We expect that' unicorn status will change that.”