Startups: 10 percent new startups are being formed every year in the country, know in which case India is the third largest country in the world

Startups: 10 percent new startups are being formed every year in the country, know in which case India is the third largest country in the world

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new Delhi. There has been a better environment for startups in the country. Many steps have been taken by the government to strengthen them. This is the reason why the number of startup companies in India is increasing at the rate of 10 percent every year. That is, 10 percent of new startups are being formed every year in the startup ecosystem.

Sanjeev Malhotra, Chief Executive Officer (CEO) of NASSCOM Center of Excellence for Internet of Things (IoT) and Artificial Intelligence (AI), said that there is a significant increase in the number of startup companies in the country. Most of the startup companies are involved in the field of applications. Many startup companies are based on software service.

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More than 14000 startups now
He said that there is a need to create startups in the main areas of research. India is the third largest startup ecosystem in the whole world. The number of new startup companies in the country has increased to more than 14,000 in 2021-22, as compared to only 733 in 2016-17.

Continuous increase in the number of unicorns
Malhotra said that more unicorns (valued at over $1 billion) are being made in India. In 2021, 44 Indian startups have achieved unicorn status. In this way the number of unicorns in the country has gone up to 83. With this, the total assets of these companies have increased by $ 106 billion. Through startups, 14 lakh people have got jobs both on the direct and indirect front.

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$36 billion investment
Investors are showing great interest in the country’s startup ecosystem. This is the reason why investment in such units is increasing rapidly. According to data from the Department for Promotion of Industry and Internal Trade (DPIIT), the annual investment in startups has increased from $11 billion to $36 billion.

Tags: Indian startups, Startup Idea

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