The real power of digital infrastructure will get unleashed when startups and small businesses come online, Ajit Mohan, VP & MD, Facebook India
NEW DELHI : India’s startup ecosystem, considered one of the most vibrant globally, has faced severe disruptions during the coronavirus pandemic. Some were pushed to the brink of closure, many pivoted, while a few others actually gained from the ongoing crisis. Global giants, such as Facebook, see a big opportunity for startups to capitalize on the new normal. In an interview, as part of Mint’s Pivot or Perish series, Ajit Mohan, vice-president and managing director, Facebook India, spoke about the company’s plans for the country’s startup community. Edited excerpts:
How has the pandemic affected India’s startup ecosystem?
The covid-19 pandemic isn’t just a public health emergency but it’s also an economic crisis that has particularly impacted small businesses across the country. Many have closed down, some are operating with a reduced workforce, and several others are experiencing significantly lower sales.
At the same time, from kirana stores to local service providers and pharmacies, small businesses rose to the occasion and fulfilled people’s needs. The scale and size of small businesses also make them extremely agile. Several of them have already adapted to the new consumer journeys by moving online.
Source: livemint
