Year in Review: India’s startup milestones by the numbers
India has emerged as the third largest startup hub globally, driven by affordable internet, a young workforce and flexible government policies. The ecosystem spans diverse sectors, including fintech, edtech, health tech and ecommerce, and is home ...
By ETtech | Updated:
ETtech
India’s startup ecosystem has created over 1.6 million jobs, with the Department for Promotion of Industry and Internal Trade (DPIIT) recognising 1.57 lakh startups as of December 25, 2024. Of these, more than 73,000 have at least one woman director, reflecting the growing role of women in entrepreneurship.
“Startups have created over 1.6 million jobs across the country, demonstrating their role as significant employment generators,” the DPIIT said in a statement.
India has emerged as the third largest startup hub globally, driven by affordable internet, a young workforce and flexible government policies. The ecosystem spans diverse sectors, including fintech, edtech, health tech and ecommerce, and is home to over 100 unicorns, with six being added to the unicorn list this year. These are Rapido, Ather Energy, Moneyview, Perfios and Krutrim.
Startups such as Zomato, Ola, and Nykaa have scaled globally, reflecting India’s ability to compete on the world stage. The success of Indian-origin startups in Silicon Valley further highlights the country’s growing global influence.
This calendar year until December 13, local startups raised $10.9 billion, slightly more than the $9.6 billion raised during the same period of 2023, data from Venture Intelligence showed. The number of deals closed so far this year fell to 809 from 829 a year back.
In addition nine venture-backed startups went public this year including Swiggy, FirstCry, Awfis, Ixigo and Unicommerce.
