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IndCham hosts fireside chat with Paytm founder Vijay Shekhar Sharma
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(Courtesy of IndCham)
T
he India Indonesia Chamber of Commerce (IndCham) partnered with Flip Indonesia to host a fireside chat featuring Paytm founder and CEO Vijay Shekhar Sharma on Oct. 7.
Held at the Elysium Lounge in Lippo Kuningan, the event aimed to facilitate the exchange of ideas and strong business relationships between Indian and Indonesian companies.
The event was attended by the Indian Ambassador to Indonesia and Timor-Leste, Sandeep Chakravorty, as well as over 30 entrepreneurs and executives from Indonesia’s fintech industry, including Allo Bank, DANA, Kredivo and Moonfolks.
The discussion touched on the evolving fintech landscape, challenges in scaling tech businesses and cross-border opportunities.
Sharma underlined the importance of financial inclusion, the impact of emerging technologies and the potential for collaboration between India and Indonesia in the fintech space.
He emphasized that the ultimate success of a fintech company depended upon leveraging technology effectively, monetizing distribution or directly providing financial services.
Highlighting the unique challenges of Indonesia’s closed loop, high margin and profit-centric market, Sharma advised attendees to prioritize operational excellence over fundraising. He noted that tough decisions, such as cutting back incentives and manpower, could be vital to avoid overloading the market.
Along with spotlighting the importance of regulatory engagement, as well as speed in execution, he cautioned against developing products solely for local markets. Companies should aim to create global products and adopt an ambitious outlook, he said.
The event concluded with Sharma encouraging entrepreneurs to remain resilient and adaptable in the ever-evolving fintech landscape, underscoring IndCham’s commitment to fostering collaboration between India and Indonesia.
