As global macroeconomic conditions worsen and funding slowdown continues, Indian startups are cutting their spends on an integral part of tech businesses – cloud storage – by renegotiating contracts with service providers like AWS and Google Cloud, multiple startup founders told ET.A notable trend involves startups actively seeking to cut down on their cloud-related expenditures by engaging in renegotiations with service providers. This approach is driven by a dual purpose: staying financially agile and maximizing the value derived from cloud services.

The process of renegotiating deals with cloud service providers allows startups to tailor their agreements based on evolving business needs and resource consumption. Startups are keen on aligning their cloud expenses with the actual usage of resources, ensuring that they pay for what they need without unnecessary overhead. By fine-tuning these arrangements, startups can effectively manage their budgets, directing financial resources towards critical areas of growth and innovation.

Cybersecurity ecosystem

The Data Security Council of India has forecast that the cybersecurity ecosystem will expand up to a point where nearly one million professionals will be required by 2025. Additionally, the demand for cloud security skills is estimated to grow by 115% between 2020 and 2025, representing almost 20,000 job openings, Narayan added.

An extensive exercise in reskilling and/or upskilling the existing workforce, believe staffing experts, is one of the ways that telcos can future proof their work.

Moreover, this trend reflects the adaptability and resilience inherent in the startup ecosystem. As technology evolves and market dynamics shift, startups recognize the importance of maintaining cost-efficient operations to sustain long-term success. Renegotiating cloud deals not only demonstrates a proactive approach to financial management but also showcases the agility of startups in responding to the ever-changing demands of the business landscape. In essence, the ability to optimize cloud costs through renegotiation emerges as a strategic imperative for startups aiming to thrive in today's competitive and dynamic business environment.