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‘Commercial EV adoption holds significant promise’ – 15 quotes of the week on India business trends

Launched in 2014, StoryBites is a weekly feature from YourStory, featuring notable quotable quotes in our articles of this past week (see the previous edition here). Share these 30 gems and insightts from the week of February 6-12 with your colleagues and networks, and check back to the original articles for more insightts. See our special compilation of quotes related to India’s pandemic responses here.

See also our pick of Top Quotes of 2022 on Entrepreneurship, Motivation, Investments, Women Changemakers, Social Entrepreneurs, Environmental Change, Pandemic Resilience, Digital Transformation, India Opportunities, Design, Art, Failure Lessons, and Storytelling.


Top 15 startup stories of 2022

The number of recognised startups has increased from 445 in 2016 to 86,713 in 2022 (as on December 31, 2022). – Som Parkash, Minister of State for Commerce and Industry

We have about 400 million students and 55,000 higher education institutions in India, making us one of the largest education ecosystems in the world. – Sunil PP, Amazon Internet Services

Right now, the gig economy on a formal side is around 1.2 to 1.3 crore people, and by 2030, we estimate this to be 9 crore people. – Pravin Agarwala, BetterPlace

It is no secret that underprivileged individuals face several disadvantages in our society. With the right tools and support, they can overcome the obstacles they face and thrive. – Alisha Chauhan, Prakash JayantiLal Chauhan Foundation

The country’s medium-term economic growth could also be hurt if the [Adani] group’s troubles have substantial negative spill-overs to the broader corporate sector or significantly raise the cost of capital for Indian firms, dampening investment. – Fitch Ratings


Top 7 stories of startups turning around their fortunes

The Coronavirus crisis has brought healthcare to the forefront of people’s and policymakers’ minds. – Sameer Merchant, Illusion Aligners

Make self-reliance your occupation. Exert yourself to gather the wealth of knowledge. – Savitribai Phule

Women representation in tech is integral to building an inclusive and innovative digital future. – Nimisha Dua, Grip

When it comes to ML and deeptech, the [startup] landscape needs work. – Puneet Lamba, Aspiro

It is now proposed to permit all inbound travellers to India to use UPI for their merchant payments (P2M) while they are in the country. – Shaktikanta Das, RBI


From a graduate selling chai to an 80-year-old couple starting business, the top 10 SMB stories of 2022

The Indian athleisure industry is worth Rs 54,000 crore. – Jeevika Tyagi, aastey

Historically, LPG was primarily considered a household fuel, and knowledge about its potential in commercial and industrial settings was limited. – Jesal Sampat, Pune Gas

Today, 80-85% of India’s automotive fuel consumption is driven by commercial vehicles with internal combustion engines. Yet, there is a strong desire to transition to a green economy and so, commercial EV adoption holds significant promise. – Hemanth Aluru, Turno

YourStory has also published the pocketbook ‘Proverbs and Quotes for Entrepreneurs: A World of Inspiration for Startups’ as a creative and motivational guide for innovators (downloadable as apps here: Apple, Android).

Edited by Megha Reddy

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