Why Most Startups Fail in India | Lessons from Fintech Giants

Vijay Shekhar Sharma, the animated Founder and CEO of Paytm, doesn’t just admire Amitabh Bachchan—he channels him. That larger-than-life energy, reminiscent of Bachchan’s iconic on-screen persona ‘Vijay’, pulses through Sharma’s speech, swagger, and even a once-viral dance to the classic Laawaris number, “Apni to jaise taise…”

At Startup Mahakumbh 2025, Sharma joined fintech stalwarts Sachin Bansal (Chairman, Navi), Jitendra Gupta (Founder & CEO, Jupiter), and Alok Bansal (Co-Founder & Executive Vice Chairman, PB Fintech). Amid a high-stakes discussion on disruption and scale, Sharma’s enthusiastic praise for a familiar name stirred the room:

“I love food delivery app Swiggy for the way they’ve transformed food delivery in India.”

Moderated by Dinesh Pai, Vice-President at Zerodha, the panel brought together some of India’s most influential fintech minds. The session offered a rare peek into the unfiltered mindset of founders who’ve not only built iconic companies but also redefined consumer behavior across sectors.

As they dissected what it takes to scale in India, one theme echoed throughout: real entrepreneurship is the art of going anti-gravity.

Going Against the Grain: “You’re Going Anti-Gravity”

Sharma wasn’t defending mediocrity. He was spotlighting the determination it takes to build anything that works in India. His admiration for Swiggy stemmed from their relentless, ground-level execution—not just their tech stack.

“When you’re building a startup, you’re going anti-gravity. Basically, you are opposing something that exists.”

This defiance is not poetic—it’s punishing. Founders face resistance from the market, regulators, even within their own teams. But, Sharma believes, resistance is proof you’re on the right path.

Resilience Before Recognition

Startups are often romanticized. Sharma, however, offered a dose of realism. Emotional resilience isn’t optional—it’s essential.

“First of all, if you are locked like a fainted heart—‘this happened, what will I do?’—then this is not for you.”

Jitendra Gupta took it a step further:

“The staying put for a long time is the only way to grow in these kinds of businesses. You need to have that cockroach mentality—come what may, you will stay put.”

In the world of entrepreneurship, survival precedes scale.

Dream Audaciously, Build Deliberately

Behind every enduring startup is a founder with a bold, sometimes outrageous vision. Sharma emphasized that without such ambition, momentum dies.

“You have to have an audacious ambition of changing something or other that exists today as a contemporary.”

This drive—to reimagine and reshape—is what separates innovators from imitators.

The Reality of Repetition

Founders often envision product launches, media coverage, and exponential growth. But the real work? It’s far more repetitive.

Gupta drove home the truth:

“You have to keep doing the same boring things every day, every week, every month.”

Progress lives in persistence. Glamour fades; routines endure.

Start With the Core: Who’s the Customer?

In a world full of pitch decks and MVPs, many founders overlook the fundamental question: who are we solving for?

Alok Bansal made it plain:

“First of all, people need to understand very basic—who is the customer, and what is the problem of the customer you're trying to solve.”

If you don’t know your user’s pain, your product doesn’t stand a chance.

Solve Smart, Stay Sustainable

Identifying the problem is just the beginning. The next challenge: solve it efficiently and profitably.

“Do you have a way to solve it in an efficient manner where you can make money?”
— Alok Bansal

Ideas are abundant. Sustainable models are rare.

Endure the Pain. Reap the Reward.

Building a startup is not just about grit—it’s about grit that lasts. And those who persevere are rewarded with more than just capital.

“If you don’t mind the pain, then it’s very rewarding. You will solve problems for billions of people. You will get rewarded for it—very well.”
— Sachin Bansal

Impact is the real ROI.

Zero-One Thinking

For many founders, the startup isn’t just a venture—it’s a life mission. There’s no backup plan. Just the road ahead.

“It is actually a zero-one game. And if you're willing to put five, ten, twenty years of your life into something—value, right?”
— Alok Bansal

It’s an all-in mindset that defines the true entrepreneur.

More Than a Swiggy Soundbite

Sharma’s Swiggy remark wasn’t a sidestep of innovation—it was a redefinition of it. True innovation, he reminded us, is not about futuristic buzzwords. It’s about solving real problems with relentless consistency.

In a country where power cuts still disrupt online payments and deliveries dodge potholes and red tape, making everyday services reliable is no less revolutionary than building the next AI breakthrough.

So when Sharma celebrates Swiggy, he’s not celebrating delivery—he’s saluting endurance. That’s what makes a startup succeed. That’s what earns you the right to dream.