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National Startup Day 2026: founders call for scale, trust and staying power
NATIONAL: India’s startup story is entering a more demanding phase, as founders, policymakers and investors signal a shift from rapid scale to durable value creation on National Startup Day 2026.
Prime minister Narendra Modi described the Startup India mission as a revolution, saying an ecosystem that began with just four startups in 2014 has expanded to more than two lakh ventures, including over 125 active unicorns. India is now the world’s third-largest startup hub, he said, with founders launching IPOs, creating jobs and normalising risk-taking once seen as fringe. Nearly 45 per cent of startups now have at least one woman director or partner, while entrepreneurs from tier-2, tier-3 and rural India are increasingly building companies beyond traditional comfort zones.
Union minister Jitendra Singh echoed that view, calling the rise in entrepreneurship transformational. Speaking at a startup camp in Jammu, he said India’s growth from a few hundred startups to more than two lakh reflected not a sudden surge in talent, but the creation of channels to nurture it. The country’s challenge, he said, had always been direction rather than ability.
Founders across sectors are striking a common note: the next chapter of the country’s startup story must be defined less by speed and valuation, and more by scale, trust and lasting impact.
EV charging platform Kazam co-founder and CEO Akshay Shekhar, said India’s ecosystem is at a pivotal stage where founders are no longer just building companies but shaping entire markets. In sectors still taking form, he argued, endurance will come from operational rigour, rapid learning and the ability to execute at scale while earning trust as unit economics evolve. For electric mobility, Shekhar said infrastructure alone is not enough. EV adoption will accelerate only when charging is predictable and friction-free, backed by deep collaboration across OEMs, charging networks, battery players and utilities to create interoperable, resilient systems.
A similar emphasis on purpose and fundamentals is emerging in healthcare and wellness. Awshad co-founder and CMO Richa Jaggi, said India’s startup ecosystem has evolved from a tech-led wave into a purpose-driven movement tackling everyday problems. She pointed to rising consumer awareness around wellness, preventive healthcare and science-backed alternatives as a sign of a maturing market. The future, she said, belongs to startups that prioritise sustainability, transparency and long-term impact over rapid expansion.
Rocket Health CEO & founder Abhineet Kumar echoed that view, warning against chasing short-lived trends. As the ecosystem matures, he said, founders must focus on building organisations that last, grounded in strong fundamentals and meaningful problem-solving. The next phase of growth, Kumar argued, lies in creating foundational infrastructure across sectors such as healthcare, education, climate, manufacturing and deep technology, with patient execution and teams aligned to long-term outcomes.
From the fintech world, crypto exchange platform WazirX founder Nischal Shetty, framed startups as instruments of nation-building. He said entrepreneurial conviction can be turned into economic momentum as India works towards becoming a $5 trillion economy. In emerging areas such as crypto, Shetty said the responsibility is greater still, with founders building cutting-edge technology that expands access, trust and opportunity at scale.
According to CNBC’s Inside India newsletter which was released in October 2025, India’s startup boom is increasingly being driven by founders outside the country’s largest cities, as entrepreneurship spreads rapidly across tier-2 and tier-3 urban centres.
The newsletter highlighted how smaller cities are emerging as powerful startup hubs, supported by lower operating costs, improving digital infrastructure and stronger access to national and global markets through e-commerce. Founders in these regions are building consumer brands rooted in local manufacturing strengths: from textiles and handicrafts to skincare and apparel, while selling directly to customers online.
CNBC noted that the pandemic years marked a decisive inflection point for Indian startups. Online shopping surged, venture funding hit record levels and entrepreneurship entered the mainstream. In 2021 alone, Indian startups raised a record $42 billion, the same year Shark Tank India debuted, helping make startup culture a household conversation across the country.
As of February 2025, the newsletter said, the Indian government had recognised around 157,000 startups, with more than 51 per cent based in tier-2 and tier-3 cities. Improved logistics, digital payments and social media-driven marketing have made it easier for founders in smaller cities to scale beyond local markets.
The newsletter also pointed to a broader shift in India’s wealth creation story. While metro cities still dominate, emerging urban centres such as Coimbatore, Surat, Indore and Lucknow are becoming important engines of entrepreneurship and consumption.
Another trend flagged by Inside India is the rise of brand-building among second- and third-generation business owners in traditional manufacturing hubs. Instead of remaining contract manufacturers, many young entrepreneurs are launching their own direct-to-consumer brands, aided by digital marketplaces and social media.
As these businesses scale, CNBC notes that many are moving offline, opening physical retail stores and taking up a growing share of mall space in tier-2 and tier-3 cities. Local and regional brands now account for nearly 30 per cent of mall retail space, up from just 3 per cent before the pandemic, according to industry consultants cited in the newsletter.
Together, the signals from policymakers, founders and market data point to a maturing ecosystem entering its next test. As India’s startup base deepens beyond metros and valuations give way to fundamentals, the challenge is no longer about proving ambition but sustaining it. On National Startup Day 2026, the message is clear: the future of Indian entrepreneurship will be shaped not by how fast companies grow, but by how long they endure and how responsibly they scale.
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YES Bank hands the keys to SBI veteran Vinay Tonse as it bets on a new era
Former SBI managing director appointed as YES Bank’s new MD and CEO
MUMBAI: YES Bank is done rebuilding. Now it wants to grow. The private sector lender has appointed Vinay Muralidhar Tonse as managing director and chief executive officer-designate, with RBI approval secured and a start date of April 6, 2026 confirmed. The three-year term signals the bank’s intent to shift gears from crisis recovery to full-throttle expansion.
Tonse, 60, is no stranger to scale. Most recently managing director at State Bank of India, he oversaw a retail book of roughly $800bn in deposits and advances, one of the largest in the country. Before that, he ran SBI Mutual Fund from August 2020 to December 2022, a stint that saw assets under management surge from Rs 4.32 lakh crore to Rs 7.32 lakh crore across market cycles. Add stints in Singapore and four years leading SBI’s overseas operations in Osaka, and the incoming chief arrives with a genuinely global CV.
His academic grounding is equally solid: a commerce degree from St Joseph’s College of Commerce, Bengaluru, and a master’s in commerce from Bangalore University.
The appointment follows an extensive search and evaluation process by the bank’s Nomination and Remuneration Committee. NRC chairperson Nandita Gurjar said the committee unanimously backed Tonse, citing his leadership track record, governance credentials and ability to drive the bank’s next phase of transformation.
Non-executive chairman Rama Subramaniam Gandhi was unequivocal. “I am certain that Vinay Tonse, with his vast experience as a senior banker, will propel YES Bank to its next phase of growth,” Gandhi said, adding that the bank remains focused on strengthening its retail and corporate banking franchises and expanding its branch network.
Rajeev Kannan, non-executive director and senior executive at Sumitomo Mitsui Banking Corporation, the bank’s largest shareholder, said Tonse’s experience across retail, corporate banking, global markets and asset management positioned him well to lead the lender. SMBC said it looks forward to working with Tonse and the board as YES Bank pursues its ambition of becoming a top-tier private sector lender anchored in strong governance and sustainable growth.
Tonse succeeds Prashant Kumar, who took the helm in March 2020 when YES Bank was in freefall following a severe financial crisis, and spent six years painstakingly stabilising the institution, rebuilding governance and restoring operational scale. Gandhi was generous: “The bank remains indebted to Prashant Kumar, who is responsible for much of what a strong financial powerhouse YES Bank is today.”
Tonse, for his part, struck a purposeful note. “Together with the board and my colleagues, I remain deeply committed to creating long-term value for all our stakeholders,” he said, pledging to build on Kumar’s foundation guided by his personal motto: Make A Difference.
Beyond the balance sheet, Tonse played cricket at college and club level and represented Karnataka in archery at the national championships — sports he credits with teaching him teamwork, situational leadership, discipline and focus. In quieter moments, he reaches for retro Kannada music, classic Hindi songs, and the crooning of Engelbert Humperdinck, Mukesh and Kishore Kumar.
YES Bank has its steady-handed rebuilder in Kumar to thank for survival. Now it has a scale-obsessed growth banker at the wheel. The next chapter starts April 6.
