Writing the India 3.0 Story

I’m going to tell you a story of how Indian software will evolve over the next two decades. This is how I see the world playing out, and I'm going to work very hard to make it come true.

The story of Indian SaaS companies dominating global markets is less about software and more about the growth trajectory of Bharat in general. Software companies will play a tremendous part in making the $30T economy vision a reality.

I believe capitalists play a crucial role in building and defining a country. Economic prowess gets us on forums where we are listened to. As a land that was consistently plundered by external forces for the last several hundred years, we must contribute in it's upcoming glory towards true economic, social, and geopolitical independence.

Independence is not an event, but an act.

The world listens to you when you are successful, we need to put our head down and work. Dominating the software markets is especially crucial because software is eating the world. Over 5 billion people use the internet and hence are exposed to some version of software.

When India dominates software across all verticals, we improve the lives of almost ~70% of the world (while having trickle-down effects on the rest of the population). Let’s get into it.

Our story so far - India 1.0 and 2.0

The technology wave in India kicked off a little late compared to the world. I think a large part of this was due to our former socialist policies and lack of business friendliness.

Wave 1: CS & Hardware - We missed the computer science and hardware wave from the 1940's to the 1960's.

Wave 2: Operating Systems - This is where America's Silicon Valley rose. The Microsofts and Apples of the world were formed in the 1970's and the 80's. We missed it.

"India 1.0" is what I call everything before the globalization of our economy in 1991, when the country was (painfully slowly) crawling out of the colonial era and dealing with local neighborhood conflict.

Wave 3: Programs - When programs ("Apps") started gaining popularity in the late 1980's and 1990's was when India's technology revolution began.

Companies like Patni Computer Systems, Tata Consultancy Services, Wipro, and Infosys kicked off the IT services boom, giving the first global exposure to Indian talent. This was only catalyzed by the Y2K doomsday situation. In 1997, India's software services were 14% of our total exports. That's huge.

I call this phase "India 2.0". It lasted until the early 2010s.

What is India 3.0?

India 3.0 was the wave that kicked off in 2015 when early Indian startups started gaining traction. Think Ola, Snapdeal, OYO, Zoho, Freshworks, PayTM.

The wave that these early startups set about greatly boosted our economy (see the numbers after 2014).

More than just economic growth, I think they brought about the culture of capitalism in our country. The word "startup" became common, every college had an "E-cell", and it gave then-teenagers like me the ability to dream big and build businesses.

India 3.0 is our nation's transition from being a services economy to a product economy.

Over the next two decades, we'll be known for the quality of the products we ship, and not for cheap IT services and BPO markets.

While I think the transition from services to products applies across all industries (such as made-in-India manufacturing of physical goods), I will specifically discuss the vision of building global software products from India.

Building Global Software from India

I believe every software vertical will have an Indian company in the top 3 contenders for global enterprises when they make buying decisions.

At SARAL, we plan to do this in the e-commerce marketing vertical. Many of my friends, colleagues, and mentors are building companies to do this in other spaces.

Pioneers of India 3.0

This vision is nothing new. In fact, several Indian companies have already done this.

It would be a disservice to the idea of a Product Nation if I didn't mention two pioneers I admire.

1 – Sridhar Vembu @ Zoho
Starting from a small apartment in Chennai in the mid-90s, Zoho was one of the first predominant SaaS players out of India. They've been around for over 25 years now, and have paved the way for a lot of other entrepreneurs in the SaaS ecosystem.

Coming back to India from the US to make in India was a radical move in the '90s (when everyone and their dog was moving to America), and I'm glad he did it.

I greatly appreciate how Uncle Vembu remained self-funded and profitable throughout. Plus, he lives in a village now, practices Dharmic capitalism, which involves giving back to smaller communities, and consistently appears in his Lungi on formal business forums – I fucking love it.

2 – Girish Mathrubootham @ Freshworks
Girish actually worked at Zoho and went on to start his own SaaS behemoth, Freshworks. They're nearing almost $1B in ARR in 2025.

In 2010, Freshworks also started small in Chennai and went on to IPO on the NASDAQ in 2021, the exact same exchange as Apple and Microsoft.

Freshworks is the first truly global Indian SaaS company, and I think there are many more to come in the next 10 years.

There are many more such pioneers, I may write another blogpost covering why they inspire me.

Still Day 1: Trends & Challenges

While these early pioneer stories are motivating, it is still day 1 for us as an ecosystem.

There are countless trends in our favor.

• Remote world: I think the remote wave of 2020 due to the coronavirus was the "Y2K moment," which catalyzed the growth of Indian SaaS.
  
  Enterprises were more open to the idea of buying online via Zoom. You don't have to apply for a visa and take an expensive flight only to pitch someone. The borders of the world are increasingly blurry in an online world, this presents tremendous opportunity for Indian founders and teams to build products that can compete globally.
  
• Access to Talent: Talent doesn't have to be in a particular city or in-office. People can work from their own cities, in the comfort of their homes, and shine on a global stage. Today, SARAL's team spans five countries and multiple Indian cities. We achieved our first $1M in revenue without ever setting foot on US soil or needing an office. This is powerful as it removes barriers.

• Artificial Intelligence: One of my frustrations with the Indian startup ecosystem is our lack of innovation. We don't build truly unique products (SARAL is not exceptional either). This is unlike Silicon Valley. The AI wave will open avenues for the first trillion-dollar company to spawn from India. It's a new paradigm (just like operating systems led to Microsoft and Apple), which means more opportunities to build a truly unique company from India for the world.
  
• Global Partnerships: Just like customers, we now have access to partners and talent worldwide. The "Product Nation" vision is inclusive of all, as it creates opportunities for people who are not in India to contribute to a globally impactful company. SARAL, today, employs folks from 5 countries, and we're very proud to have a talented team spread across continents!

But there are some headwinds too...

• Perception of Indian Software: Over time, the perception of Indian software players has become that of a cheap alternative. We price low, build sub-par products, and deliver poor CX. This has to change.
  
  Indian founders and teams have to enforce a global performance and quality standard on themselves and operate like a truly global player to become one. As Mike Tyson says, "You have to be the champion before you become champion."
  
• Launching in India: It is easier to earn a dollar than it is to earn a rupee.
  
  I consistently see young Indian founders playing it safe and restricting their products for Indian companies. I think this is a strategic mistake.
  
  You must be global-first from the start. There is little reason to restrict yourself geographically. There are countless successful companies (such as Chargebee) that launched globally first and then entered the Indian markets later.
  
• Put yourself out there: Indians culturally tend to be more introverted. We sometimes hide that we're building from India, maybe to avoid the perception mentioned above. We should own the fact that we're building in India for the world.
  
  This is why I chose to name the company "SARAL" (meaning "simple" in Sanskrit). This is why I have a video of me demoing the product on our homepage. Indian founders need to put themselves out there and own it.
  
• Pro-Risk Business Culture: We need more success stories to foster a pro-risk business culture as a country. A significant majority of talented youth in the country want to work at big companies, move abroad, or join colonial-era bureaucracy.
  
  While these may be valid and noble pursuits, I believe you can serve your country better and have a more considerable impact by contributing directly to its economy and building a product-first nation.

We have to build

The only way to gain respect on a global stage is to build world-class software products in India, not abroad. Sridhar Vembu said it best:

I belong to a generation of Indian engineers who migrated abroad for better opportunities. Back in my early 20s, when almost 70% of my graduating batch was preparing for the GRE, I ardently stayed back. I believe India is where you can create massive opportunities – for yourself and for the world!

Software is only the first step. We have to build serious capabilities within the country. This involves other upcoming industries like AI, world-class hardware, space technology, and more.

We have to build in India. We have to work hard and pay the price of success. It will be worth it.

How this fits into my vision for SARAL

This is the cultural part of the Why behind building SARAL.

If ISRO can fly the Mangalyaan (our Mars orbiter) into space for less than the cost of the movie Gravity, we can build and ship world-class software. I truly believe this.

Our goal over the next 5 years is to build the go-to platform for influencer marketing. Consumer brands will only increase their collaborations with creators, so SARAL should be positioned as their top choice of platform to manage these partnerships.

On the human side of business, my goal is to set the team up for financial freedom. Just how the Freshwork's IPO created over 500 Crorepatis, I want to emulate that for my team. It is really impossible to build anything without a group of humans who are as driven as you, waking up every day and working hard towards achieving the same vision. I believe the team must see massive financial gains for this effort. This is my duty as CEO.

Personal Ambition

SARAL is a stepping stone for many more advanced, complicated businesses I want to build.

As a teenager who was deeply passionate about Physics, space-tech excites me. The possibility of creating a commercial enterprise that sends humans into space is compelling. There are endless possibilities with Artificial Intelligence. Military and financial technology are also powerful ways in which I see myself creating an impact in the world.

Software is just the first step.

Let's get to work

I hope this vision is just as compelling for you as it is for me, and we all work every day towards achieving the India 3.0 vision over the next few years. It will not be easy; there are several challenges. But somebody has to do it. So why not us?

The journey to India 3.0 is ours to shape. By doing this, we can transform the country into a Product Nation and impact billions worldwide.

The rewards will be monumental, and the legacy will be enduring. In your own way, I hope you join me on this mission.

The best way to predict the future is to create it.

Let's get to work now. Over and out.

PS: If you're building along this vision or want to join us at SARAL, get in touch! I'd love to chat.