India maintains 3rd rank for largest startup ecosystem in World By Elets News Network - 06 November 2019

India maintains 3rd rank for largest startup ecosystem in World

With the addition of over 1,100 startups in 2019, India has continued to maintain its position as the third-largest startup ecosystem in the world, taking the total number of tech startups to 8,900 – 9,300 in the last five years, National Association of Software and Services Companies (NASSCOM) said in a statement.

It also said that the country’s startup ecosystem is geared up for the “10X” growth trajectory by 2025.

“From 2014-2025 the 10 year period that we will see, the Indian startup ecosystem is geared up for a 10X growth trajectory over these ten years, which is pretty phenomenal. We are expecting by 2025 the total number of unicorns to go up anywhere between 95-105 in India,” Debjani Ghosh, NASSCOM, President said.

Also Read: Chinese VC’s Interest in Indian Startups Broaden

During the press conference, she said “NASSCOM expected the cumulative valuation, which in 2014 was around USD 10-20 billion for the startup ecosystem, to go up to anywhere between USD 350-390 billion by 2025. The total number of jobs was expected to go up to million-plus by 2025 and indirect jobs, up to 4 million-plus.”

Also Read: Indian startups now solving local problems: Y Combinator

“When we look at the growth trajectory the Indian startup ecosystem tells a fantastic story. The opportunity for us is to do more and faster with the right government and industry support and become 10X plus growth trajectory,” she said.

Related News