While India’s publicly listed ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/digital-first-companies” target=”_blank”>digital-first companies are now valued at over $90 billion, the market remains concentrated and still in the early stages of maturity, according to a new white paper by ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/bay-capital” target=”_blank”>Bay Capital.
The firm noted that nearly a quarter of this total market value is accounted for by a single company, though it did not name rel=”dofollow” href=”https://economictimes.indiatimes.com/eternal-ltd/stocks/companyid-57948.cms” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank”>Zomato.
However, Bay Capital noted that this concentration is not a concern but rather a signal that the market is just beginning to deepen.
“With more businesses reaching profitability and scale, the overall value of…
