tl;dr
In 2024, India experienced a significant surge in its startup economy, becoming the world's third-largest startup ecosystem with over 110 unicorns. The government's favorable policies and increased investments propelled India as a hub for entrepreneurial ventures and job creation. Tech startups, esp...
If there was one story in 2024 that stood out from the rest, it was the massive growth of the startup economy in India. Supported by a dynamic ecosystem, favorable government policies, increased investment, and a growing talent pool, India pushed forward as a hub for entrepreneurial ventures and a powerful engine for job creation. In 2024, India emerged as the world’s third-largest startup ecosystem with more than 110 unicorns and is on track to becoming a developed nation by 2047, with startups playing a significant role in India’s economic growth.
The Narendra Modi-led Indian government plans to boost employment and upskill the workforce, startups, and small businesses in the current financial year that ends in March 2025. As of October this year, Indian startups have reportedly raised close to $10 billion in funding, putting them on track to exceed the $10.5 billion raised in total funding throughout the previous year.
“2024 has been a pivotal year for tech startups, particularly those leveraging artificial intelligence (AI) across various sectors,” said Rohit Jain, Chief Strategy and Investment Officer of CoinDCX, India’s first digital currency unicorn.