Why Do So Few Indian Startups Turn Profitable?😐

In India, people generally aren't used to paying for software, especially if you're referring to software startups. You'll need to find alternative ways to generate revenue indirectly. Achieving a high number of DAU/MAU is crucial for this. High engagement not only creates entry barriers for competitors but also increases the potential for revenue generation for those who can survive and thrive in this environment.🤷‍♀️🤷‍♂️

Increased competition is the only answer.

Because most are not creating any value. They are creating solution for non existing problems. But the same trend is true almost everywhere in the world, not just India. But in developed countries like US, Netherlands, Canada etc. innovation happens. In India, even startup ideas are mostly copy paste repackaged with nationalism

Figma was created in US and people in India are learning it so they can get hired as designers. That startup built a new industry and provided a product at a lower cost. Why isn't any figma emerging from India ? Domestic consumption can not be an excuse for digital products.

India has been a socialist economy after independence it's only after 1991 liberalization we are now opening up the market. But even still people's mindset is same and still people are dumb, lack civic sense, vote based on freebies and lack thinking logically and critically. India is still a long way to go to reach the level of US startup ecosystem. Like they say empires doesn't stay in power for longer than few centuries who knows US could possibly start seeing it's decline as china and India start growing decade by decade

Very few people ready to pay for their time. We are ready to spend time to buy things locally if provided at cheaper price. Same goes with financial apps, we are ready to do analysis ourselves. Same with other services. Deep reasons are upbringing, poor country , people do not see much scope in future hence try to save a lot, low trust country/society etc.