Under Modi’s rule, India has overtaken China to reach the second place in the Unicorn Club.

India is continuously achieving new heights under the leadership of Prime Minister Narendra Modi. The way the government is providing facilities and incentives to the startup sector, the number of startups becoming unicorns in the country has increased rapidly. Today, India has overtaken China to reach the second place in the world among emerging unicorn countries. Now only America is ahead of India. Commerce and Industry Minister Piyush Goyal tweeted that India is now the world’s number 2 among the countries with the most emerging unicorns, ahead of China.

Our strong and innovative ecosystem is enabling Indian startups to zoom into the unicorn club. There are 32 emerging unicorn companies in India. Whereas 27 unicorn companies have been made in China as compared to India. In the year 2021, where 33 unicorns were made in India, the number of unicorns in China was only 19. The number one position in the Unicorn Club is America. Under the unicorn, those startups come whose value is more than one billion dollars.

Before 2014, only four startups in the country were in the unicorn club. In 2021, 33 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. Apart from this, where the number of startups was less than 500 five years ago, today India has become the third largest startup ecosystem in the world with 68,222 startups. 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. 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.