PhonePe CEO Sameer Nigam Highlights Ease of Global Expansion for Indian Companies

PhonePe Founder & CEO, Sameer Nigam, emphasized on Wednesday that for companies already thriving in India, expanding globally is much simpler due to the proven scale in the domestic market.

Speaking at an event in Mumbai, Nigam stated, “If you can succeed in the Indian market where consumers demand everything, often for free, it’s much easier to go abroad because the scale’s already proven out. The quality of service demanded in India is very high.”

He highlighted how the IT industry’s significant foreign direct investment (FDI) into India has generated employment opportunities. Nigam pointed out that despite initial challenges such as inadequate internet infrastructure and smartphone accessibility, the situation improved around 2010 with increased FDI.

Nigam underscored the transformative impact of affordable internet and smartphones, catalyzing market expansion and enabling young entrepreneurs to seize opportunities.

He noted, “Leveraging FDI, India now aims to establish global enterprises.”

Nigam expressed optimism about India’s evolving perception, particularly in regions like South-East Asia and Western Europe, where the Indian brand is gaining traction.

“As this perception solidifies, Indian companies will confidently expand, exemplified by initiatives like PhonePe, offering diverse services,” he remarked.

Reports suggest that the Walmart-owned fintech company is planning to enhance its presence in markets where the National Payments Corporation of India (NPCI) operates. Its global expansion plans are anticipated to be revealed in the coming months.

Sameer Nigam shared these insights during his address at the India Digital Summit 2024 in Mumbai.