Copyright timesnownews
Riyadh: India’s fast-growing startup ecosystem is entering a new chapter - one that shifts focus from unicorn-chasing hype to a more sustainable public-market expansion, according to BEENEXT Partner Anirudh Garg. Speaking at the Future Investment Initiative (FII9) 2025 in Riyadh, Garg shared wide-ranging insights into India’s evolving startup landscape, its expanding manufacturing credentials, and the growing strength of India’s consumer-driven economy. He was in conversation with Sajeet Manghat of Times Network. FII9 2025: What Is Global Cities Resilience Index? Here’s How Delhi, Mumbai Made The Cut ‘Mini-IPOs’: The Next Big Listing Trend Garg said India’s IPO environment is in the midst of a healthy structural transition. “The ecosystem is maturing from a unicorn-driven rush to a healthier public market cycle,” he noted. He believes the country will soon witness a surge of ‘mini-IPOs’ - where startups go public at valuations between $500 million and $1 billion, and then compound steadily in the markets. Garg compared this shift to China’s growth trajectory after the rise of giants like Alibaba and Meituan. This next wave, he stressed, will create more predictable value creation for investors while encouraging younger companies to embrace public markets much earlier. India’s Growth Engine: The Rising Middle Class Garg called India’s expanding middle-class consumer base the most powerful catalyst for the next decade of development. BEENEXT, he said, has intentionally invested in consumer-centric startups — from Deconstruct in beauty and skincare, to a new Indian coffee QSR chain, to an emerging affordable furniture brand. “Our goal is to build the IKEA of India,” he said, underlining the firm’s focus on affordability, quality, and Bharat-scale distribution. ‘China Plus One’: India’s Manufacturing Moment Garg also highlighted the massive opportunity emerging from the global China Plus One strategy, which is pushing manufacturers to diversify production outside China. BEENEXT has already backed ventures in chemicals, textiles, and aerospace components that are increasingly competitive in global markets. “The thesis is simple — build for the world from India,” he said, calling manufacturing one of Asia’s most durable investment themes. What’s Next At FII9? Hosted under the theme “The Key to Prosperity: Unlocking New Frontiers of Growth,” FII9 brings together the world’s most influential policymakers, innovators, investors, and heads of state to shape strategies for sustainable and inclusive global development. The event is organised by the FII Institute, a global nonprofit with an investment focus across AI and robotics, sustainability, healthcare, and education — translating bold ideas into tangible solutions with real-world impact. Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world.
