Building Global Businesses from India

India’s startup ecosystem is no longer content to serve just its domestic market. A new generation of companies is setting its sights on the world, crafting globally competitive products and services from India, leveraging deep pools of talent, favourable cost structures, and increasing policy support. Whether in SaaS, deep-tech or spacetech, Indian founders are moving up the value chain and capturing international market share.

SaaS: Building India’s Next Global Powerhouse

One of the most vivid manifestations of this global shift is India’s SaaS (software-as-a-service) segment. According to the India Brand Equity Foundation (IBEF), the market is projected to grow from $7.18 billion in 2023 to $62.93 billion by 2032, representing a compound annual growth rate (CAGR) of 27.3%. These projections reflect not just scale but aspiration: Indian SaaS firms are increasingly building for export, not just domestic customers.

Deep-Tech and Spacetech as Emerging Frontiers

Beyond SaaS, India’s ability to build globally competitive businesses is increasingly visible in deep-tech and spacetech. According to recent industry data, India is home to over 3,600 deep-tech startups, spanning areas such as AI, quantum computing, robotics, and advanced materials. Notably, more than 480 of these companies were founded in calendar year 2023, twice the number established in 2022, underscoring the rapid acceleration of innovation-led entrepreneurship in the country.

Funding flows are increasing: deep-tech startups raised approximately $1.6 billion in 2024, up 78% year-on-year. These deep-tech ventures, spanning AI, quantum, advanced materials, robotics and climate-tech, are designed with global impact in mind, positioning India among the top 6 global deep-tech ecosystems.

On the spacetech front, India’s reforms allowing private firms entry into satellite manufacturing, launch vehicles, and spaceports are unlocking a long-under-leveraged segment. The government’s goal to grow the sector to $44 billion by 2033 and capture 8-10% of the global market highlights the ambition. Startups like Skyroot Aerospace and Agnikul Cosmos are already building rockets; others are provisioning Earth-observation data and satellite services for clients worldwide.

The Indian Space Policy 2023 and IN-SPACe (Indian National Space Promotion and Authorisation Centre) have created a regulatory pathway that encourages collaboration between ISRO and startups, enabling private players to use national launch infrastructure. India’s cost-efficiency is a differentiator, giving startups a natural export advantage.

Policy Support and Global Orientation

The shift from domestic to global is enabled not only by founder ambition but also by policy and infrastructure. India has liberalised foreign direct investment (FDI) rules, introduced production-linked incentive (PLI) schemes for hardware manufacturing, and created startup-friendly mechanisms for deep-tech firms. Programmes such as the Semiconductor Mission and deep-tech incubator networks embed globally relevant objectives in India’s innovation stack.

For startups targeting global markets, this means access to improved supply chains, manufacturing ecosystems and procurement channels. Moreover, Indian founders increasingly establish global corporate headquarters, sell predominantly to non-Indian customers, and raise capital internationally, thus aligning their business models to global norms rather than chasing domestic scale first.

The Narrative of Global From Day-One

A defining trait of India’s new generation of global businesses is their orientation from day one. Unlike earlier models that used India as a low-cost production base and later scaled abroad, today’s firms often build globally from the outset. They adopt worldwide architectures, hire globally dispersed teams, and sell to customers across regions, including North America, Europe, Southeast Asia and Latin America.

This flip in mindset has strategic implications: it compels Indian companies to design for global data-privacy regimes, multi-currency billing, cross-border compliance and international sales teams, all of which are skills that create durable moats. It also helps them attract global venture capital. When an Indian SaaS firm demonstrates that 70-80 % of its revenue comes from the US or Europe, it qualifies for the same investor conversations as a San Francisco-based player.

Opportunities and Risks

With global ambition comes opportunity and risk. On the positive side, India’s cost advantages, abundant engineering talent and fast-growing digital economy provide fertile soil for globally competitive firms. The ability to export IP, platform code and services also creates spill-over effects: higher operating standards, improved governance frameworks and ecosystem maturation.

But competing globally also demands readiness in areas such as intellectual-property (IP) protection, data sovereignty, foreign-exchange risk management, regulatory compliance and global go-to-market execution. Currency swings, geopolitical tensions, export controls, and talent retention (especially with the lure of Silicon Valley or Europe) are real issues for Indian firms. Additionally, while funding has improved, especially for SaaS, deep-tech and spacetech demand long time horizons and patient capital, areas where the ecosystem still needs to deepen.

Another key challenge lies in brand perception. Competing globally requires India to shed its legacy image as a cost-efficient service provider and assert itself as a center of innovation. As success stories accumulate, that narrative is already changing but consistent global marketing and IP protection will be crucial.

Why It Matters

India’s transition from serving the domestic market to building global businesses matters both economically and strategically. Economically, it means higher-margin exports, more technology ownership (rather than just service delivery), and greater accumulation of intellectual capital in India.

Strategically, it means India begins to compete not only as a service hub but as a creator of world-class platforms, hardware, and products. For global customers, Indian startups are no longer “off-shore support” but full-stack competitors. For domestic talent, the global pathway broadens the horizon and anchors high-quality jobs within India’s ecosystem.

Looking Ahead

India’s trajectory is clear: end-to-end global businesses increasingly emerge from its startup ecosystem, not just local or regional plays. Whether in SaaS, deep-tech or spacetech, Indian entrepreneurs are building products for global audiences, deploying capital for global expansion and competing on world stages. With the convergence of policy reform, talent depth, accessible infrastructure and capital markets maturing, India is plausibly positioned to become a global hub for technology innovation by 2035.

Brand Manager

Aayushi Thakur

Frequently Asked Questions

Q: How is India’s startup ecosystem shifting toward global markets?

A: Indian startups are increasingly building products and services for global customers rather than focusing solely on domestic demand. Improved digital infrastructure, access to capital, and deep engineering talent have enabled companies to compete internationally.

Q: How big is India’s SaaS opportunity?

A: India’s SaaS industry is expanding rapidly. According to the India Brand Equity Foundation (IBEF), the market is projected to grow from $7.18 billion in 2023 to $62.93 billion by 2032, a compound annual growth rate of 27.3%.

Q: What makes India competitive in deep-tech and spacetech?

A: India hosts over 3,600 deep-tech startups, with more than 480 new companies founded in 2023, double the previous year. Deep-tech funding reached $1.6 billion in 2024, up 78% year-on-year. At the same time, India’s spacetech reforms have opened satellite and launch-vehicle manufacturing to private players. Q4. Why does this global shift matter for India’s economy?

Q: Why does this global shift matter for India’s economy?

A: Building global businesses allows India to move from a service-delivery model to a product-innovation model. It elevates India’s role in global supply chains, creates high-quality domestic jobs, and strengthens intellectual-property creation. In short, it transforms India from being a cost-efficient hub to becoming a source of world-class innovation.

Q: What policy measures are helping Indian startups go global?

A: India has liberalised FDI norms, removed the angel tax, and introduced production-linked incentive (PLI) schemes for manufacturing and semiconductors. Frameworks such as the Semiconductor Mission, National Deep-Tech Startup Policy, and IN-SPACe promote technology transfer and global partnerships. These initiatives give startups access to capital, supply chains, and regulatory clarity while aligning Indian innovation with global standards.

Sources

1. https://ibef.org/blogs/the-rise-of-saas-in-india-trends-and-future-outlook
2. https://www.business-standard.com/companies/start-ups/india-ranks-sixth-globally-in-deeptech-startup-ecosystems-nasscom-124062000811_1.html
3. https://economictimes.indiatimes.com/tech/technology/tech-startup-funding-rose-23-in-2024-deeptech-saw-78-boost-nasscom-report/articleshow/119949674.cms
4. https://www.pib.gov.in/PressReleasePage.aspx?PRID=2068155