One of the most historic moments for Indian startups was when PM Narendra Modi declared January 16 as the National Startups Day
The launch of ONDC, 5G, and CBDCs has put India on the global radar
The Indian startup economy crossed a major milestone after it added the 100th Indian startup to the unicorn club in 2022
From just 400 registered startups in 2014 to 85K in 2022, India’s startup ecosystem has grown exponentially. In less than a decade, the country’s startup space is seen enjoying the third spot globally after China and the US. Experts say that the fundamentals of this burgeoning space are so strong that even the Covid-19-induced market slump ended up favouring it.
It is pertinent to note here that until 2019, the country’s startup ecosystem was moving at a pace just enough to sustain a top spot. Then came 2020, the year of the pandemic, and, surprisingly, the ecosystem leapfrogged from basic survival to sustainability on the back of a more digitally involved nation. Subsequently, the year 2021 saw an influx of funds to the tune of $42 Bn and the creation of 44 unicorns. India, which today is home to 108 unicorns, was already on a growth trajectory never seen before.