The event was attended by a majority of aspiring entrepreneurs, start-up enthusiasts and venture capitalists. Speaking on ‘Surviving and Winning in a Downturn’, a panel discussion, an optimistic Dinesh Agarwal said, “The online business is about serving your customers well, at the right price, and despite all break down. And when the markets are facing mayhem, you must choose to pounce on latent opportunities by realigning your approach and rethinking your strategies.”

Using his vast experience over the past decade, Sanjeev Bikhchandani - known for his famous portal Naukri.com said, “One should assume that there will be no funding and then decide to go ahead with their start-up. Rather than focusing on dream projects, it's imperative to emphasize on returns in the next quarter or within the current year. If your project does not guarantee returns so early, then one needs to realign the marketing and distribution strategies.”

Hosted by The Indus Entrepreneurs (TiE), the event brought together leaders who have seen the resurgence of the Internet after the dotcom burst and emerged winners; and promising entrepreneurs who believe in the commercial potential of the Internet. Answering a question as to whether a business should opt for online, offline or hybrid model, Mr Agarwal said that it depends entirely upon the type of business model in practice and the strategies in effect at that particular time, considering prevailing market scenario.

Fielding a question as to the right time to start a new venture, an optimistic Mahendra Swarup said that if he could afford to start a company, he would do it now, in the downturn, as it is the best time to go ahead with any new kind of start up.

Dinesh Agarwal added, “Sun Tzu writes in his book The Art of War, ‘when in peace, be at war’. It’s true; recession is really the time when you can gather all the ammunition you will need once things improve”. The technocrat started IndiaMART.com in 1996, survived the dotcom burst in 2001, and is today running India’s largest online B2B marketplace.

Also brought to the table were case studies of companies that stayed afloat during the burst, and what was learnt from their experiences.

About IndiaMART.com

IndiaMART.com is India's largest online B2B marketplace. It connects Indian suppliers with international and domestic buyers through business directories, online product catalogs, buy-sell offers, printed media and trade shows participation.

Founded in 1996, the company has a presence in over 100 cities pan-India. With approximately 1000 employees, IndiaMART.com offers an extensive range of value-added products and services to over 500,000 members and over 5 million global buyers across industries and verticals.

IndiaMART.com has won numerous awards over the years including Red Herring 100 Asia & Emerging India and the company has been widely covered by media such as CNBC, BBC, BusinessMoney, CNN, Businessworld, Economic Times, Financial Express, etc.

About TiE

The Indus Entrepreneurs (TiE), was founded in 1992 in Silicon Valley by a group of successful entrepreneurs, corporate executives, and senior professionals with roots in the Indus region. There are currently over 12,000 members and more than 1,800 charter members in 52 chapters across 11 countries. TiE’s mission is to foster entrepreneurship globally through mentoring, networking, and education. Dedicated to the virtuous cycle of wealth creation and giving back to the community, TiE’s focus is on generating and nurturing our next generation of entrepreneurs.

Besides its flagship event, TiECon--the largest professional conference for entrepreneurs, TiE now has a wide range of programs including Special Interest Groups (SIGs), TiE Institute, Deal Flow Meetings, TiE Young Entrepreneurs, and, most recently, TiE Women’s Forum and CEO Forum.

For more information, please visit: www.indiamart.com/press-section/