Source: PwC Global 100; Bloomberg/PwC
A strong product ecosystem and good number of product brands with global reach are key to creating lot more value and wealth. So, India must create Apple, Google, Amazon, Intel, Oracle, Lenovo, Xiaomi, Alibaba, and Facebooks of the world driven by innovation, design and engineering. The so called Indian product companies just go to China and bring off the shelf products and market them under their brand. Product centric startups require totally different mindset and approach. They tend to take tens to hundreds of millions of dollars and five to ten years before reaching profitability. This is quite a contrast from “services” model that doesn’t require lot of capital and usually have small but quick returns.