TiE Delhi-NCR's India Internet Day Celebrates Indicorn Surge: Delhi-NCR Leads with 51 Startups Crossing Rs 100 Cr Revenue each
Gurugram, 2 May, 2025: India Internet Day (iDay), India's definitive startup event for tech entrepreneurs hosted by TiE Delhi-NCR at The Leela Ambience, concluded today, marking a high point in redefining India's position as a rising global digital power. In its 14th edition, the event brought together more than 1,200 attendees, 60+ investors, over 50 speakers, and 40+ partners, alongside policymakers and industry leaders. The focus was on driving collaboration to propel India toward its predicted $1 trillion digital economy by 2030.
India's digital economy is expanding at double the pace of overall GDP growth, with projections showing it will contribute to one-fifth of national GDP by 2029. By 2025, India's internet user base is expected to cross 900 million, with rural adoption playing a significant role in driving growth. Event sessions discussed how this momentum creates a fertile ground for startups, digital platforms, and tech ventures to scale, positioning India as a leader in the global tech landscape.
Opening the conversation on India's policy environment shaping the future of the digital economy, Dr Abhijit Phukon, Economic Adviser, Department of Financial Services, Government of India, stated, 'As innovation evolves rapidly, our regulatory approach must be equally adaptive and predictive. The goal is to ensure that digital and financial ecosystems remain secure while enabling innovation to thrive. A balanced regulatory environment builds trust, protects consumers, and allows startups to grow responsibly. The government remains deeply committed to collaborating with industry to strike that balance and drive inclusive digital growth.'
'India Internet Day 2025 reaffirmed its role as the crucible where India's digital doctrine is not just discussed—but actively redefined,' said Upasana Sharma, Executive Director, TiE Delhi-NCR. 'With over 1,200 attendees, 60+ investors, and 50+ speakers, the event became a high-voltage hub for bold ideas on artificial intelligence, startup scaling, and Bharat's digital acceleration. At a time when India is poised to lead the global AI revolution, iDay provided a critical platform for innovators, policymakers, and technologists to converge. The space tech session led by IN-SPACe was particularly electric—signaling India's next leap into frontier technologies and deeptech. Events like iDay are no longer just
conferences; they are launchpads for India's tech-powered future.'
Vijay Shekhar Sharma, Founder and CEO, One97 and Paytm, joined a discussion on 'Keynote – Dreaming Big, Building Bold: India's Road to Tech
Superpower.' Vijay compared the 2014 era of startup funding to 'crossing flyovers in Delhi's Outer Ring Road.' He explained, 'The first flyover you cross is angel funding. For the second flyover, there's no series A funding because all are tourist VCs. At that time, VCs were opening a few bases in India. Now, Outer Ring Road has all the flyovers. I think funding in India is not that big of a problem. Now, investors will value you if you are building for India in India.'
On AI, he noted, 'So it is my reading that currently we consider AI as an agent, saathi, or assistant for us. I've started using it for many deep insights. But actually, after a few days, we will be the agents of AI. It will no longer be just an agent to us.'
iDay 2025 became a crucial platform for entrepreneurs to showcase their techdriven startups. The event focused on cutting-edge topics such as AI, 5G, fintech, digital public infrastructure, e-commerce, space tech, startups, policies, smart cities, and regional internet trends. Experts discussed how these technologies are creating opportunities for businesses to accelerate and how government initiatives, like the Digital India Programme, are facilitating growth. These initiatives aim to position India as a digital superpower by 2030.
At iDay 2025, transformative sessions inspired the ecosystem—Col Sanjeev Yadav, Director, UIDAI, explored how Aadhaar authentication can power startup innovation, while Air Vice Marshal Retd. Dhananjay V Khot, AVSM, VM; Director, Strategy and Planning, IN-SPACe, highlighted India's bold leap into the spacetech frontier.
The event also highlighted India's digital economy growth, the expansion of internet connectivity, and how AI is shaping industries such as healthcare, agriculture, and innovation. Experts discussed how other open tech frameworks are reshaping India's digital landscape, empowering startups to scale while improving access to services for underserved communities.
With indicorns on the rise, Kunal Bahl, Co-Founder, Titan Capital and Snapdeal, joined the discussion on 'Indicorns: Building India's Enduring Startup Foundation—Release of India's Indicorn List 2025.' Kunal shared, 'India's startup engine is thriving. 202 Indicorns with over ₹1.5 lakh crore in revenue and ₹7,393 crore in profits prove that building profit-first businesses at scale is not only possible but already happening. With 51 Indicorns, Delhi-NCR is leading the charge, powering jobs, innovation, and sustainable growth.'
Delhi-NCR Tops the Charts with 51 Indicorns as India's Profit-First Startups Cross ₹1.5 Lakh Crore in Revenue
Indicorn—a Titan Capital initiative—highlights the rise of 202 'Indicorns,' or Indian startups with over ₹100 crore in annual revenue. Together, these companies generated ₹1,51,137 crore in revenue and ₹7,393 crore in profits while employing over 1.46 lakh people. Delhi-NCR leads the pack with 51 Indicorns, followed by Bengaluru (42) and Mumbai (35), reinforcing India's shift toward scalable, profit-driven entrepreneurship.
The event featured an impressive lineup of speakers, including event co-chairs Akshay Chaturvedi, Founder and CEO, Leverage Edu; Apurva Chamaria, Global Head, VC and Startup Partnerships, Google; and Upasana Taku, CoFounder and CEO, MobiKwik; alongside industry leaders such as Shweta Rajpal Kohli, President and CEO, Startup Policy Forum; Akshat Babbar, Managing Director, ChrysCapital; Shantanu Deshpande, Founder and CEO, Bombay Shaving Company; Vijay Shekhar Sharma, Founder, One97 and Paytm; and Ankur Warikoo, Founder, WebVeda. These leaders shared their insights through fireside chats, panel discussions, and keynote speeches.
iDay 2025 facilitated unparalleled networking opportunities, connecting entrepreneurs with decision-makers and fostering collaborations that will drive future innovation. The discussions equipped attendees with the knowledge needed to thrive in the evolving digital landscape.
Havas Media Network India served as the Silver Partner to this milestone event.
Spotlighting the importance of iDay and its association with the Indian startup ecosystem, Mohit Joshi, CEO, Havas Media Network India, said, 'At Havas Media Network India, we take great pride in our consistent partnership with TiE, which continues to be a powerful force in shaping India's startup ecosystem. iDay2025 brought together some of the most inspiring minds driving innovation and transformation. As champions of meaningful brands, we are committed to being enablers in this journey of entrepreneurial growth and digital progress.' TiE Delhi-NCR remains committed to empowering entrepreneurs and fostering innovation within India's rapidly growing digital economy. iDay 2025 served as a milestone in this journey, laying the foundation for India to not only participate but also lead the global tech narrative.
About TiE Delhi-NCR
TiE Delhi-NCR is by entrepreneurs, for entrepreneurs. It is a member-based organisation, a group of successful entrepreneurs, corporate executives, and senior professionals who have come together under the TiE Delhi-NCR umbrella to foster future entrepreneurs and innovators. With the vision to help entrepreneurs gain access to the best experts and grow their businesses beyond conceivable limits, TiE Delhi-NCR is on a mission to provide budding and growing entrepreneurs the right networking, mentoring, and funding support for achieving business excellence. At the same time, the mission is to grow the rock-solid support of mentors, investors, and founders, through innovative programs and platforms that offer startups and entrepreneurs the best guidance for growth.
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This means that the subvention plan leaves borrowers high and dry in case of a serious project delay,' remarks be sure, the RBI had banned banks from entering into such arrangements. It had also barred lenders from making upfront disbursements to builders in underconstruction projects. Loans must be disbursed in tranches linked to construction progress. However, several NBFCs and fintech platforms continue to tie up with builders to offer variants of such construction-linked plan (CLP), a staple offering among builders, has proven to be a mirage. Under this arrangement, the buyer pays in tranches, linked to construction milestones. The builder receives payment only when the work is completed, supposedly reducing the risk for buyers. Surely, it is in the builder's interest to execute the project on time?Not quite. Experts point to a critical flaw in construction-linked plans. These are often not aligned with the builder's cash flow. 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If Project A is delayed or abandoned, the builder has still made his in five under-construction houses were undelivered across major cities and towns in are notorious for gaming this arrangement. A builder claims a milestone (say, 10th or 15th slab) is complete even when actual work is pending. If a lender is involved, they may furnish forged completion certificates to get the lender to release the next tranche. This results in front-loaded payments even when the construction activity lenders carry out due diligence while choosing builders? Surely banks would not want any erosion in the value of their collateral. On the contrary, lenders have been lax in this regard. Many banks don't lend to builders (other than grade A) directly, given the risk in the real estate business. Instead, they offer home loans to individual buyers, which indirectly fund the builder. 'Essentially, the consumer is financing the builder in the name of 'construction-linked plan',' observes Singh. 'So a developer, to whom no bank lends money, can actually get easy finance from the buyers at 0% interest, while the borrowers pay the EMIs with interest,' he system has conveniently kept the builders well fed. In many cases, builders and lenders have pre-arranged cosy tieups. Banks sanction loans for new projects without batting an eyelid, even if these are missing clearances from local authorities. Some lenders may skip physical inspection of construction progress entirely, relying on the builder's documents. This lack of hygiene checks is because banks have no real skin in the game, say experts. How so? If the builder falters and the house (collateral) value shrinks, the bank can recover its value through auction and yet hold the homeowner liable for the outstanding builders and lenders have led homebuyers into a storm. 'Builders have often exploited subvention schemes to attract buyers without ensuring timely delivery. In many cases, they were used to mask delays or financial instability. Banks, too, have played a role by approving loans without adequate scrutiny of the project's viability, especially during periods of high market activity,' remarks Ravi Shankar Singh, Managing Director, Residential Transaction Services, Colliers India. 'Builders used these schemes to collect funds early while construction lagged. Banks, aiming to grow home loan portfolios, at times overlooked due diligence,' suggests a tri-party agreement project gets delayed or builder guardrails are now in place through the Real Estate Regulation and Development Act (RERA), but these lack sufficient enforcement mechanisms. This encourages builders to play the devil with impunity. 'A law is only as strong as its enforcement. RERA orders have no enforcement power. Even if you win interest penalty for delayed completion, you can take that victory certificate where you want to. The builder is not going to pay anything,' Singh laments in his post. 'We created a system that was designed to finance the extremely low-credit builder and rob the consumer of his lifetime earnings with no recourse to justice,' he unsuspecting homebuyers are now paying a hefty price for pursuing their housing aspirations. The dream abode has turned out to be a millstone around the neck rather than a means for achieving financial freedom. For those looking to buy, vigilance remains the only Pharande, Managing Director of Pharande Spaces, insists, 'Buying a home should be driven by at least as much awareness as sentiment. Homebuyers must always approach a real estate deal in the spirit of caveat emptor—buyer beware.'Verify the builder's track record and financial stability. Ensure the project is registered with RERA and check its status online. Seek independent legal and financial advice before committing. Shetty avers, 'Scrutinise all the documents, approvals, sanctions, etc. It does not matter whether the lender or the builder have done the legal legwork. As a buyer, you are the one investing your and your family's emotional, physical, and financial well-being in the property. So make sure you have a lawyer to make all the checks on your behalf.'Do not take blind comfort in easy financing offers. 'Subvention schemes and deferred payment plans are means by which buyers can pay for their homes in a more flexible manner, based on how far along the construction is. While this makes it easier for them to pay, such schemes are only useful if they are clear and have explicit terms, and if the developer can be relied upon to complete the project as per schedule,' says Pharande. Buyers should clarify who will be responsible if the builder misses interest payments, as such lapses can lead to missed payments that negatively impact the buyer's credit score, even though the disbursed funds were for construction, not personal use, insists the builder's track record and financial IndiaWatch out for front-loaded payment schedules. Paying 70-80% of the flat cost within 18 months while the project is scheduled for completion years later is a red flag. 'Make sure the payment schedule reflects the stages for actual completion of your flat and also till the handing over of all the legal documents like no-objection certificate (NOC) and occupation certificate,' asserts Shetty. You do not want the bank to advance the entire amount even if the entire post-completion paperwork is pending. This change needs to be made in the sale deed before it is signed and registered, he says. Further, insist on third-party verification of construction milestones before any payment. Relying solely on builder statements or certificates increases don't fall for incentives offered by the builder while overlooking crucial aspects of the Shankar Singh of Colliers asserts, 'It's important to focus on the fundamentals, location, builder credibility, legal clearances, and construction quality, rather than flashy incentives.
