There has been a rapid increase in the number of startups becoming unicorns in the last six years under Modi’s rule.

The Modi government launched Startup India six years ago in 2016. After this, the Modi government gave a better environment for the development of startups, as a result of which there has been a revolution in the field of startups. There has been a rapid increase in the number of startups becoming unicorns in the country. The country’s startup ecosystem has strengthened due to the increasing trend of youth regarding their business and the Modi government encouraging new businessmen.

Before 2014, only four startups in the country were in the unicorn club. In 2021, 46 startups in India with a valuation of over $1 billion were successful in achieving unicorn status. With this, the total number of unicorns present in India more than doubled to 90. Today, India has become the third largest country in the world in terms of unicorns after the US (487) and China (301). Apart from this, where the number of startups was less than 500 five years ago,

At the same time, India has become the third largest startup ecosystem in the world with the number of startups at 61,669. There is at least one startup in 625 districts of the country and more than half of the startups are in tier II and III cities. The startup sector in India is getting a lot of support. Investors are also showing great interest in this. Due to this, annual investment in startup units has increased from $11 billion to $36 billion. Between 2010 and 2014, only $3.2 billion was invested in startups.

At the same time, from 2014 to December 4, 2021, the total investment in them was $38.4 billion. Now many big startups are launching their IPOs and have raised money from the market. With this, it is expected that in 2022 about 50 startups can become unicorns. Significantly, India’s startups are working with 55 different industries. These startups worth thousands of crores have become the hallmark of self-reliant and self-confident India. Where unicorns and startups have given impetus to the economic development of the country,

At the same time, employment opportunities have been created on a large scale. Startups have created more than 5 lakh jobs. Today it is being said that the more startups there are, the more employment will be there. Today young people are raising the flag of India in the world of startups. The future prospects in this area are immense, because under the initiative like Digital India, internet facilities are being available in villages as well. With this startups will also get an opportunity to move towards villages and employment opportunities will also increase.