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Nw : India sees the emergence of the 100th unicorn

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Ministry of Commerce & Alternate

India sees the emergence of the 100th unicorn

The 100 unicorns of India valued at USD 332.7 billion. 

Within the first four months of 2022, India sees the upward thrust of 14 unicorns

Posted On: 06 MAY 2022 7: 56PM by PIB Delhi

The wave of Unicorns in India has soared to fresh heights as the nation witnessed the delivery of its 100th Unicorn on 2nd Can also 2022. Nowadays, 1 out of every 10 unicorns globally had been born in India.

Union Minister of Commerce and Alternate, Particular person Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal highlighted the success in a tweet. 

India Hits A Century In Style! 💯

Bengaluru-based mostly mostly startup change into nation’s 100th Unicorn.🦄

India=Ideas Innovation Investmentshttps://t.co/KcNQMIEokA

— Piyush Goyal (@PiyushGoyal) Can also 2, 2022

The term ‘Unicorn’ refers to the rarest of the uncommon startups who change into Unicorns achieving a valuation of larger than USD 1 billion. The Indian Startup Ecosystem, the third-largest on the earth in preference of Unicorns, as of Fifth Can also 2022, is home to 100 unicorns with a total valuation of USD 332.7 billion. 

2021 skilled a tall surge in the preference of unicorns, registering a total of 44 startups entering the Unicorn club by the one year with a total valuation of USD 93 billion. 

Within the first four months of 2022, India has given delivery to 14 unicorns with a total valuation of USD 18.9 billion.

The entrepreneurial spirit exists at some stage in the length and breadth of the nation and is obvious by the spread of the Division for Promotion of Alternate and Internal Alternate (DPIIT) known startups all over 647 Indian districts encompassing all 36 States and Union Territories. 

For the reason that launch of the Startup India initiative on 16th January 2016, larger than 69,000 startups had been known in the nation till 2nd Can also 2022.  Innovation in India is no longer factual restricted to certain sectors; now we bear known startups fixing complications in 56 diverse sectors with 13% from IT providers and products, 9% healthcare and existence sciences, 7% education, 5% skilled and commercial providers and products, 5% agriculture, and 5% food & drinks.

Whereas every startup has its unusual chase to becoming a unicorn, the minimal and maximum time taken by a startup to change correct into a unicorn in India are 6 months and 26 years, respectively. Till FY 2016-17, roughly one unicorn changed into once being added one and all year. Over the previous four years (since FY 2017-18), this number has been increasing exponentially, with a whopping 66% Year-on-Year enhance in the preference of extra unicorns being added one and all year.

As we hit the milestone of a century in Indian unicorns, the homegrown startup ecosystem continues to work effectively in the direction of the mission of self-reliance and self-sustainability as they’ve been in the previous. The vision of Atmanirbhar Bharat is rooted deeply in the Startup Ecosystem and shall proceed to prevail in the coming years.

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