The market cap of China’s top digital companies (Internet and mobile companies) probably exceeds $75 billion. The top two – Tencent and Baidu – are worth over $50 billion between them. All Indian digital companies (private and public) put together have a market cap of sub-$5 billion — probably much lower.
Let’s look at this another way. The Indian digital companies market cap could be $25-50 billion in 5-7 years, if one looks at China. So, the question to ask is: how will this market cap be created? Which are the companies that are going to be the big winners?
These are still early days in the Indian digital space. More than 90% of the wealth creation is still to happen. That is what entrepreneurs, angel investors and VCs should be looking at.