India’s entrepreneurial journey is at least five years behind China’s path. There’s no Jack Ma or Robin Li in sight or a big-time IPO like Youku. India lacks the entrepreneurial buzz and fast pace of China tech clusters. Indian entrepreneurship has been led by grassroots efforts, and the government hasn’t always been venture friendly.
If India is ever to break through, it needs to ditch an image as just for outsourcing or low-cost engineering and business services—a major challenge for the world leader of the booming $500 billion global outsourcing market. But India could eventually become a tech minipower and grab some of the limelight from China. Contemporary corporate centers such as Whitefield on the outskirts of Bangalore and the Gurgaon satellite city in Delhi showcase that India is rising.
For sure, India needs a lot more deals with the stature of online travel site MakeMyTrip, a deal that barely gets noticed next to China’s higher-profile Internet home runs. After all, MakeMyTrip listed on NASDAQ in August 2010, nearly seven years after Ctrip, China’s leading travel site, had its own debut.
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