India is one of the largest economies of the World but according to many economic experts India is still fairly punching below its weight when it comes to its own development and contribution in the World growth. The Government of India(GoI) is now tasked with the humongous task of revitalizing economic growth after the recent economic slump. One of the ways in which the Government is envisioning this is to promote home grown startups to create value for the economy and generate employment for the people of the Nation. Government has come up with a slew of policies and reforms for startups to sustain and thrive. In the same series, in a recent development Government has allowed common individuals to incorporate companies and startups to provide doorstep fuel delivery services. This is a huge development for the entire petroleum retail industry in India as the entry of thousands of new fuel startups can help in bridging the historic gap between supply and demand in the country. The recent policy changes and reforms in the petroleum laws has seen the propping up of hundreds of new fuel startups in the last few months. The opportunity for these startups exists in the fact that the Indian fuel market is enormous as it is but the opportunity does not just end here for the startups. After successfully establishing their foundations, these fuel startups have extremely successful trails left behind by some of the successful Indian startups.
Few of the most successful Indian startups that went on to create success stories not just in India but also out of the country. These include startups like Ola, Oyo, Byju’s, Paytm. The Bangalore based Ola after successfully establishing their operations in India went on to start their operations in Australia and Uk. OYO is currently competing with top hotel chains across the World and now runs operations in Malaysia, China, UK and US. Byju’s is one of the most valued Edtech Companies in the world right now, it expanded its growth in multiple countries and is aggressively pushing for growth. Paytm also developed its presence in countries like Canada and Japan.
Now if we look around the World and especially at the developing economies in South-East Asia, Middle-East, South America, there is an enormous demand for energy in these regions of the World. This provides the newly thriving Fuel Startups in India an enormous opportunity to look beyond just the domestic markets. The Indian Fuel Startups are relatively a new thing but the way they have created buzz in the petroleum industry and the efficacy of the solution that they are providing, fares well for them. As seen often, consumption of Fuel/Energy is in direct correlation with the growth, these fuel startups can play an important role in spurring the economic growth in the country. Of course, these startups would first like to make a mark in the Indian market first before they harp global aspirations. But with enormous needs for fuel/Energy of developing countries, scaling up a full proof technological solution of doorstep fuel delivery for other developing economies may not be a far distant dream for the Indian fuel startups.
Repos Energy, a home grown startup has worked extensively for the solution of doorstep diesel delivery in the last few years, it has developed the latest tech-enabled high-tech solution that includes the Repos Mobile Petrol Pump and Mobile App integration. It has also provided assistance to all the aspiring fuel startups right from scratch till their journey to markets providing service to customers. One of the Fuel Start-ups out of all 500+ fuel start-ups registered under Repos Energy, AuroFuels is working towards catering the diesel demands of the Indian market. Also, there’s another Fuel Start-up named GoFuels which is dreaming to go global in the years to come and put India in the list of problem-solvers. Now Repos Energy in partnership with Tata Motors organised a virtual Energy Startups Summit from 11th-15th 2021 to spread awareness about developments in doorstep diesel delivery and to also provide help and assistance to the aspiring fuel startups.