National Startup Day: EaseMyTrip’s Rikant Pittie Calls For Sharper Focus On AI Infrastructure

With the fourth edition of the National Startup Day this week, there is a lot to unpack, from achievements of the Indian startup ecosystem to the “to-do list” for the next few years. Since the unveiling of Startup India back in 2015, the ecosystem has seen a tremendous jump in the number of startups as well as funding, with the number of recognised startups now nearing the 1.6 Lakh mark.

The centre has evidently been bullish on bolstering the growth of these startups with various initiatives, facilitating startups with funds, simplified compliance and collaboration.

These initiatives include the Fund of Funds for Startups (FFS) with an allocation of $1.4 Bn to boost early-stage fundings, followed by Startup India Seed Fund Scheme and the Credit Guarantee Scheme. 

Discussing the role of policies in transforming the Indian startup landscape, EaseMyTrip founder Rikant Pittie told Inc42, “Together, these policies are not only driving growth but also inspiring entrepreneurs to build a brighter, innovation-driven future.”

He added that the Department for Promotion of Industry and Internal Trade (DPIIT) recognition for startups has also contributed in this growth trajectory by “simplifying compliance, offering tax benefits, and fast-tracking intellectual property rights, allowing startups to prioritise innovation.

Looking Ahead, This National Startup Day

The past decade has seen policy frameworks shaping the journey of Indian startups. In the Union Budget of 2024-25, finance minister Nirmala Sitharaman abolished angel tax, finally clearing a big hurdle for Indian startups. Besides this, the government has looked to encourage investments in spacetech, semiconductors and AI development in 2024.

While all these policies and even the ones from previous years have strengthened the startups in India, there are many challenges which stand unanswered. Pittie told Inc42 that startups in India continue to face compliance burdens which hinders their growth.

Indeed, one of the core objectives of the Startup India mission is to reduce the compliance burden, but startups continue to face such challenges, even as they laud government efforts, including the National Startup Day.

Talking about the necessary policy changes, Pittie added, “A key priority is streamlining regulatory frameworks. Simplifying regulations and reducing compliance burdens will allow startups to operate more efficiently.”

Additionally, the EaseMyTrip CEO put emphasis on sector-specific funding programs. It is pertinent to note that in 2024, the central government focused on empowering sectors like deeptech and spacetech by allocating funds, liberalising FDI policy and planning to launch sector-specific policies.

With initiatives like Open Network for Digital Commerce (ONDC), startups have got an opportunity to expand their customer base and collaborate with a government-backed product. 

“Policymakers should also encourage public-private partnerships to build robust ecosystems for startups. Events like the ONDC Startup Mahotsav highlight how collaboration can unlock opportunities and support growth,” added the EaseMyTrip cofounder.

Safeguarding Indian Tech With Infrastructure 

Majority of the Indian startups capitalise on their tech. As per the Inc42’s ‘Indian Tech Startup Funding Report 2024’, homegrown tech startups bagged more than $12 Bn in funding during the year. These startups are not only promoting competition amongst themselves but are also challenging the tech majors across the world. 

Pittie shares that these startups need more funding and supportive infrastructure to keep them rooted in India. Last year, US-based chip giant Nvidia announced a partnership with Reliance to build AI infrastructure in India.

Additional government push on infrastructure will enable tech companies to stay competitive at a global level by “more grants, tax breaks, and procurement incentives.”

While such ẻnablement can help startups in overcoming many barriers and safeguarding their innovation, India is also putting efforts in establishing itself as a manufacturing player to avoid dependency on other countries. Promoting local manufacturing by incentivising design and research within the country, could reduce reliance on foreign tech, Pittie said.

For instance, a few days earlier, commerce minister Piyush Goyal announced the launch of the ‘Bharat Cleantech Manufacturing Platform’ to unify stakeholders from private and public sectors. 

Apart from core tech, EaseMyTrip founder highlights the importance of maintaining a balance between AI innovation and data protection. 

He recommends a risk-based regulatory framework for AI which promotes transparent and explainable AI systems. On the other hand, Pittie strongly believes that “a solid data governance framework will safeguard user privacy while supporting AI growth.”