Birla said a generation of entrepreneurs in India are now taking advantage of the 1991 economic reforms. The private sector, he added, is also firing on two-engines — the conventional and the new-economy. “I call it the ‘Double-engine growth’. Investors are excited about growth prospects in core sectors as well as sunrise sectors. In my view though, the word sunrise sector applies to the entire landscape in India, which includes both conventional sectors like cement, steel, power & auto and emerging areas like digital & renewables. Both hold the promise of high and sustained growth,” said Birla.
Birla said there has perhaps rarely been a better time to be an entrepreneur, as everyone from angel investors to the public markets line up to back ideas. “The competition for investment opportunities and the ‘fear of missing out’ (FOMO) have driven up valuations of many fledgling companies to stratospheric levels,” said Birla.
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