Indian stock market
The size of the India stock market is currently behind to the United States, China, Hong Kong, Japan, and the United Kingdom; it is estimated that within three years it will rise from the current US$3.5 trillion, accounting for about 2.8% of the global stock market. It will grow to exceed the size of the United Kingdom and exceed 5 trillion by 2024, and the U.S. dollar increased to about 3.7% of the global stock market, squeezing out the United Kingdom and India stock market becoming the world’s fifth largest stock market.
Before move on, it’s recommended you to read my blog article “Indians do well in the US, India’s weak and uncompetitive industries“.
Indian startups have raised a total of US$10 billion since 2021, surpassing the sum of the past three years, and up to 150 companies may be listed in the next three years. The booming on India venture capital will accelerate the the India stock market.
India’s tech giants
| Company name | Business area | Main investors |
| BigBasket | eCommerce | Alibaba |
| Bill Desk | Simplify of billing payment | |
| Byjus | K12 education | Tencent |
| Cred | Fintech | |
| Delhivery | Logistic | |
| Dream11 | Online sport and gaming | Tencent |
| Druva | Digital security | |
| Freshworks | CRM | ticker: FRSH |
| Flipkart | ecommerce, retail | Walmart, Tencent, Microsoft, Softbank |
| Future Group | ecommerce, retail | Amazon.com |
| Groww | Investment platform | |
| Gupshup | Chatbot | |
| Hike | Social network | Tencent |
| Icertis | Contract management | |
| InMobi | Mobile advertisement | |
| Jio | Social network | |
| Meesho | Social network | Facebook, Softbank |
| Mikemytrip | Online ticket, hoteling | Ctrip.com |
| MLP | Online game, eSport | Alphabet, Sequoai |
| Mohalla | App development | |
| Mu Sigma | Big data | Softbank |
| Ola | Ride hailing | Tencent, softbank |
| Lenskart | Online eyewear | Softbank |
| Loa Electric | EV | |
| Oyo | Ride hailing | Didi, Microsoft, Huazhu Hotels Group |
| Oyo Room | Online hoteling | |
| PayTM | Fintech | Alibaba, Berkshire Hathaway, Softbank |
| PayTM Mal | ecommerce, retail | Alibaba |
| PhonePe | UPI payment | Flipkart |
| Pine Labs | POS devices | |
| Policy Bazaar | Online insurance | |
| Quikr | News aggregation | |
| Reliance Retail | ecommerce and retail | Amazon.com |
| ReNew Power | Renewable energy | |
| Rivigo | Logistics | |
| ShareChat | Social network | Alphabet, SnapChat, Microsoft |
| Snapdeal | eCommerce | Alibaba |
| Swiggy | Food delivery | Tencent, Meituan, Hillhouse Capital |
| Udaan | B2B trading platform | Tencent |
| Zomato | Food delivery | Ant group, Alibaba, Shunwei Capital |
Even Buffett’s Berkshire (ticker:s: BRK.A and BRK.B) have invested in PayTM. There will be a total of seven unicorns in India in 2020, and there will be only six in 2019. Catering delivery platforms Zomato, Paytm, ride-hailing service startup Ola, e-commerce company Flipkart, etc. will soon be listed.
China’s influence on Indian tech giants
The Indian emerging technology giants listed above are almost inseparable from the support of large sums of funds from the Chinese technology giants, and they are all major investors. These Chinese technology giants include Alibaba (ticker: BABA), Tencent (ticker: TCEHY), Xiaomi, and Fuxing. Among them, Alibaba and Tencent have invested the most funds on these emerging technology giants in India. After the China-India fallout last year and India completely banned Chinese software and Internet products, this wave of Chinese technology giants’ investment in India’s emerging technology giants has officially come to an end.
Starting in 2015, Tencent and Alibaba began to increase their bets in India. India had only 31 unicorn companies by the end of 2019, and nearly half of them were divided between Alibaba and Tencent. According to statistics in mid-2020, of the 30 Internet unicorns in India, 18 have Chinese shareholders.
US’s influence on Indian tech giants
Amazon (ticker: AMZN), Alphabet (ticker:s: GOOGL and GOOG), WalMart (ticker: WMT), Microsoft (ticker: MSFT) and Facebook (ticker: META) make huge investments of billions of dollars at every turn. In contrast, the investment amount of Chinese companies and Chinese capital is much smaller, but China’s capital coverage is wider than that of the US technology giants. Usually, Chinese companies will not obtain controlling rights or dominate operations. These are the biggest difference from U.S. giants.
In short, almost all the funds behind India’s emerging technology giants come from the Chinese and American technology giants; plus Softbank from Japan, there are very few exceptions. With no doubt, India stock market will grow in the future!
Not allow to list overseas
According to current regulations, Indian companies are not allowed to list directly on overseas exchanges. They can only list on overseas exchanges through instruments such as depositary receipts. Indian Finance Minister Nirmala Sitharaman said on September 11, 2023 that India may reconsider allowing local companies to list on foreign exchanges. related articles
Related articles
The following is an overview of the development of new innovative technologies in some important countries in my blog, or brief articles:
- “Venture capital and unicorns introduction“
- “Global Venture Capital and Unicorn Report“
- “Let’s talk about TikTok “
- “Failed Taiwan Software Industry Policy“
- “The hardware and software gap between China and US, is all China-made software and hardware possible?“
- “Japan is already a country of mediocrity, not as advanced as you think“
- “South Korea’s emerging technology giant“
- “Beyond your imagination of Israel’s strong venture capital and tech strength“
- “Reasons of the success Israel’s technology nation“
- “Israel stock market and tech giants“
- “Booming India stock market and the emerging Indian tech giants“
- “Indians do well in the US, India’s weak and uncompetitive industries
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