Prosus Venture India head Ashutosh Sharma at the Global Business Summit said that inflation in the US flattening, no significant escalation in the Europe war, and improvement of the situation in China in terms of their zero covid policy are signs of green shoots.
“We don’t know how long or how bad the hangover will be. Having said that, I think there are green shoots. The situation in China has changed vis a vis zero COVID policy, and the war in Europe, there is some stalemate kind of a situation there is no escalation anticipated anytime soon. Inflation is kind of flatlining in the US. So I think all those are green shoots,” Sharma said.
He said that the present situation is very unique due to a few things that are at work.
“There is a part of me which says that that probably we are a quarter- a couple of quarters away from inflation, then trending downwards, and then of course, that really will help the capital markets,” Sharma said.
He said that it will be a fascinating year for economists to look back at five years from now for finding out the right answer for the way forward.
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Talking about lay-offs, Oyo Founder and Group CEO Ritesh Agarwal said that with the opening up of markets there is a new business that is coming up and jobs are getting created in the market. BYJUS, co-founder, Divya Gokulnath said that her firm has been net hirer and the company had to let go 5 per cent of the workforce because of role redundancy.
” While there is a dip on one side, there’s also a larger uptake on one side and that’s where the potential lies. There are so many companies starting up right now because this is the age and time of a digital entrepreneur right now,” Gokulnath said.
