Zia Mody shared her insights during a panel discussion at the third edition of the Express Awards for Women Entrepreneurs, alongside fellow panelists Ronnie Screwvala, co-founder of the ed-tech platform upGrad, and Anant Goenka, Executive Director of The Indian Express group.
Mody, who is the Co-founder and Managing Partner of the law firm AZB & Partners, emphasized the growing global recognition of India’s entrepreneurial journey and the increasing interest of foreign investors in domestic companies. She highlighted that while there were 44 unicorns in 2022, the number decreased to one or two in 2023. However, she expressed optimism about India’s entrepreneurial landscape, noting that foreign investment in young talents continues to rise due to the success stories of individuals. Mody’s remarks were part of a discussion organized by Financial Express in collaboration with FICCI-FLO.
As a member of the jury for the Express Awards, Mody contributed to selecting the awardees. Ronnie Screwvala, co-founder of upGrad and the event’s chief guest, also participated as a panelist.
“It is our decade unless we do something wrong to ourselves. I think just as demography, democracy, aspirational set of youth and with the world in our hands, we just need to stay the course. The course has to be one of governance at the end of the day,” Mody said.
When questioned about the challenges encountered by four prominent startups – Dream11, Paytm, Byju’s, and Ola – Screwvala remarked that every industrial conglomerate experiences ups and downs, and it would be unfair to single out a few.
He emphasized that governance issues often accompany growth and maturity, influenced by the caliber of investors involved. Screwvala stressed the importance of a symbiotic relationship between investors and the company.
Highlighting his concerns, Screwvala pinpointed two main issues: a growing sense of entitlement among entrepreneurs and the tendency for success to overshadow the broader perspective of life.
