Paytm Will Continue To Divest Non-Core Businesses, Says CEO Vijay Shekhar Sharma

Paytm will continue to divest non-core businesses, says CEO and Co-Founder Vijay Shekhar Sharma. "The company's focus is on core business," Sharma told NDTV Profit exclusively on the sidelines of the Rising Rajasthan Global Investment Summit 2024 on Tuesday.

The Rising Rajasthan Global Investment Summit 2024 is being held from Dec. 9 to 11 at the Jaipur Exhibition and Convention Centre in Rajasthan.

"We are seeing payments as our moat; that's where growth will be," he said on the divestment of non-core businesses.

The company will continue to cross-sell financial services to that funnel of users, Sharma said.

The Paytm CEO and co-founder shared that the startup progress in Rajasthan is very inspiring. "The government's iStart program is interesting," he said.

"As a global champion, I want to be present more here in Rajasthan," Sharma said.

He further noted that a state is not based on one city.

The event's theme, 'Replete, Responsible, Ready,' highlights the state's readiness for investment and sustainable growth, the release said.

The Summit will have sessions around the themes of water security, sustainable mining, sustainable finance, inclusive tourism, agri-business innovations, and women-led startups, among others.

The summit has brought together 32 countries, including 17 'partner countries' such as Denmark, Japan, and South Korea. More than 5,000 delegates from across the globe, including top industrialists like Kumar Mangalam Birla and Anil Agarwal, are participating in the event.

Rajasthan Chief Minister Bhajanlal Sharma also addressed the summit, setting a target to double the state’s economy to $350 billion in the next five years.

"The Rajasthan Global Business Expo will feature thematic pavilions such as the Rajasthan Pavilion, Country Pavilions, Startups Pavilion, among others, the press release said.