Indian entrepreneurs who want to learn more about business operations, e-commerce business are heading in plane loads to Beijing, Shanghai and Guangzhou.
"The Indian start up ecosystem is like the China of 2006 when valuations there were reasonable," said angel investor Rajan Anandan who is also Google's Vice President and Managing Director of Southeast Asia. , Last year Mr. Anandan led a delegation of about 20 investors and entrepreneurs from India to Chinese firms such as Alibaba and Ctrip.
China and India have been referred to as the Hidden Dragon and the Crouching Tiger and this exchange of business know-how brings the two giants even closer. Mr Anandan says "achieving a path to profitability despite scaling up", said Anandan,
The enormity of the markets is huge and thus the attraction for business development. India has 310 million online (including 140 million through smartphones) compared to China's 690 million hooked on line on the internet.
China's e-commerce market touching USD $ 300 billion, is thirty times greater than that of India (USD $ 10 billion). Outside of the US, the Chinese venture capital market is the largest with investments of upon USD $ 16.2 billion compared to USD $ 2.1 billion in India.
In fact India can also teach the dragon a couple of things to quote Sharad Sharma angel investor and founder of product think-tank iSpirt, "Startups focused on digital consumers have a lot to learn from China. But Indian software platform companies such as FreshDesk, OrangeScape and IT infrastructure players such as Druva and InMobi have a lot to teach Chinese start ups about how to be global winners, not just local."