In IT services, "you are selling bodies and you say yes to everything the customer says," said Krishnamoorthy. SaaS companies, on the other hand, have to say no to 99% of [potential] customers, he added.

And India's startup ecosytem is still relatively immature when compared to Silicon Valley. Despite the massive size of some homegrown unicorns, Mathrubootham said that the country does not have a "global tech powerhouse product brand."

*

But he hoped that future SaaS companies can change that.

"It is my personal dream to see India as a product nation," he added.

In IT services, "you are selling bodies and you say yes to everything the customer says," said Krishnamoorthy. SaaS companies, on the other hand, have to say no to 99% of [potential] customers, he added.

And India's startup ecosytem is still relatively immature when compared to Silicon Valley. Despite the massive size of some homegrown unicorns, Mathrubootham said that the country does not have a "global tech powerhouse product brand."

*

But he hoped that future SaaS companies can change that.

"It is my personal dream to see India as a product nation," he added.