The trouble for Indian startups is that, USD is quite cheap compared to INR, and these companies can manage to sustain that massive burn rate, and also out-comp

The trouble for Indian startups is that, USD is quite cheap compared to INR, and these companies can manage to sustain that massive burn rate, and also out-compete technically. Flipkart, Ola, not sure what else. I wonder how Didi pulled it off.... state hand ? cheap CNY (fiscal control) ? local investors ?.