Unicorn Nation: India Gallops Ahead with 1.76 Lakh Startups and Counting

India’s startup scene has hit an exciting new milestone! Finance Minister Nirmala Sitharaman recently shared that the country now has an impressive 1.76 lakh registered startups and 118 unicorns. This remarkable growth underscores India’s emergence as a global innovation powerhouse and highlights the government’s ongoing commitment to fostering youth entrepreneurship and creating jobs.

 

Key Highlights

 

•⁠  ⁠Over the last 11 years, the number of registered startups has skyrocketed to 1.76 lakh, making India the third-largest startup ecosystem in the world.

 

•⁠  ⁠With 118 unicorns—startups valued at $1 billion or more—India is proving its maturity and competitiveness on the global stage.

 

•⁠  ⁠Government initiatives have been crucial, including the establishment of new IITs, IIMs, and AIIMS, along with training 1.6 crore young people through the Pradhan Mantri Kaushal Vikas Yojana (PMKVY).

 

•⁠  ⁠Startups have directly created 17.6 lakh jobs, supported by significant investments in higher education and vocational training to drive future growth.

 

•⁠  ⁠Recent budgets have also extended important tax benefits for startups and introduced a ₹10,000 crore Fund of Funds to encourage early-stage innovation.

 

Outlook

 

With strong government backing and a dynamic entrepreneurial spirit, India’s startup ecosystem is set for even more growth. The emphasis on deep-tech, AI, and inclusive development points to a bright future for innovation and job creation.

 

Source: MSN