“There is no technology in India”: Anopam Mittal says that most companies are able to technology at best

The Shadi.com Anupam Mittal Founder said that the starting starting world in India is chasing technological assessments without technology to support it.

Speaking at the GRip Invest, MITTAL said that India lacks companies that can comply with the innovation and profitability of American technology giants such as Apple, Meta and Google. “We have companies pretending to technology,” he said. “Everyone wants the mark – opens higher assessments.”

It recalls the discovery of a real estate company naming itself as a “consumer technology company” in a newspaper advertisement. He said, “It is ridiculous.” “This is the type of brands that mislead investors.”

MITTAL drew a line between real technology companies that are driven by royal technology and powerful margins-and what it called “companies that support technology” that only uses digital tools to work. “Be very careful,” and be careful. “If you will give it multiple 5-7X revenues, ask whether it is really technology or only uses technology.”

He pointed out that companies such as Zomato or Uber depend on technology but do not meet the standard for evaluating pure technology. “Mostly in India, it supports technology or pretending to technology. Real technology is rare,” he said.

MITTAL’s statements fall as investors, especially the retail, are moving in a crowded scene with startups that yearn for wearing a technology badge – whether they earned it or not.