Employees of Shopclues.com, an online marketplace, work inside their office in Gurgaon, on the outskirts of New Delhi, India, January 19, 2016. REUTERS/Anindito Mukherjee
MUMBAI: After pumping billions of dollars into Indian Internet startups in the last 24 months, global investors are cutting that flood back to a trickle as dreams of huge online sales are clouded by soaring valuations and still-distant profits.
Even as Prime Minister Narendra Modi lines up a four-year, US$1.5bil (RM6.56bil) government fund to help startups create jobs, entrepreneurs fear that may prove a drop in the ocean. Venture capitalists have already tightened purse strings as ripples from China's economic slowdown lap around the world.
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