New Delhi, Oct 22 (IANS): Kunal Bahl, the co-founder of Snapdeal on Tuesday said that the start-up ecosystem was behind the country's unprecedented digital revolution and hence paved the way for its economic transformation.

Speaking to IANS after the NDTV World Summit, Kunal Bahl, the co-founder of Snapdeal as well as Titan Capital remarked, "The digital revolution has taken the country by storm. We are now one of the most connected countries globally, thanks to the digital public infrastructure. Whether it's UPI, Aadhaar, or other initiatives, country is taking lead in all digital assets."

Stressing the impact of these developments, Bahl said, "It's creating a culture of merit, it is creating a culture of connectivity, and it is bringing a lot of people out of poverty and out of ignorance."

Bahl expressed gratitude to Prime Minister Narendra Modi for the Startup India initiative, the one-of-its kind program being credited for putting the country on the world map and also reflected on his own entrepreneurial journey.

"When I started in 2007, the concept of a startup didn't exist. You either ran a family business or took up a job. It was only after the Prime Minister initiated the Startup India movement that the term 'start-up' became mainstream, gaining recognition and legitimacy across the country," he elaborated.

Bahl also highlighted India's promising future, stating, "India is a big macro bright spot as the Prime Minister himself said yesterday that while the world is going through wars and challenges, India is where all the positivity is."

He attributed the nation's positive trajectory to both the leadership and the strategic focus on digital and economic reforms.

"I think because of the stability in leadership we've had for 10 years and will continue to have for the coming years, it has created a bedrock, a strong foundation for the country to go from strength to strength," he said.

Earlier in a wide-ranging conversation at the NDTV World Summit on Tuesday, the country’s leading entrepreneur also pitched for rephrasing the term from ‘Unicorn’ to ‘Indicorn’, claiming that the former was coined by a US venture capitalist in American context.

“India would do better by celebrating Indicorns as they would reflect enduring Indian businesses built as start-ups on back of real revenues and profits,” he said.