India's tech renaissance: PhonePe, Paytm could be the next TCS, Infosys

Hopefully the momentum at both PhonePe and Paytm will spur more Indian entrepreneurship, feeding a rebirth in India's tech sector not seen since the IT-outsourcing boom two decades ago

India’s largest startup is ready to birth its own unicorn. That’d be unusual anywhere, but that it’s happening in India offers some hope for the country’s long-awaited tech renaissance. 

This is also  great news for Walmart. The US retail behemoth paid $16 billion for 77 per cent of Indian e-commerce company Flipkart Group in May last year. That deal included payments unit PhonePe — an early pioneer in the digital-wallet business — which Flipkart had acquired two years earlier. 

Now Walmart is engineering a spinoff as part of a $1 billion funding round that could value payment unit at up to $10