We need to create a ecosystem to foster startups, says Kaku Nakhate of Bank of America

India might be fast becoming the startup capital of the world, but more needs to be done, including having a better ecosystem in place, for the sector to flourish, said Kaku Nakhate, President and Country Head — India, Bank of America. Nakhate was speaking on the second day of the Confederation of Indian Industry (CII) Annual Plenary Session.

"We need to create an ecosystem to have more startups. They are getting a lot of funding because the new digitisation that we are seeing is actually fueled by new players — we do have a much better ecosystem than we had five years back. But we do need to go to the stage where capital is freely available for people," she added.

Nakhate further mentioned that if we don't create such an ecosystem then the unicorns in India are going to find it hard to survive.