Despite being only around a decade old and led by the likes of Zomato, Inmobi, Freshworks, OYO, Paytm, Byju's etc. India's startup ecosystem is home to 21 unicorns.
Home to India’s financial capital — Maharashtra is also the leading hub of jobs created by startups in India. Out of 2,85,890 jobs reported by 23,657 startups recognised by the Department for Promotion of Industry and Internal Trade (DPIIT) as on December 4, 2019, 52,847 jobs (number of employees) are created across 4,443 startups in Maharashtra. Karnataka and Delhi were the second and third top startup employment hubs having 46,462 jobs in 3,444 startups and 34,489 jobs in 3,001 startups respectively, according to the information shared by Commerce Minister Piyush Goyal in the Lok Sabha on Wednesday.
However, with respect to the tech startups in India, which may or may not be registered with DPIIT, the number of jobs created has grown from around 40,000 direct and around 1.6 lakh indirect jobs in 2018 to around 60,000 direct and approximately 1.8 lakh indirect jobs in 2019, according to the Nasscom startup report announced early November this year. The country added over 1,300 tech startups in the current year taking the total number of such startups to 8,900-9,300. Other top states, according to Goyal, with the highest number of employees were Uttar Pradesh (20,193), Haryana (19,446), Telangana (18,725), Gujarat (18,087), Tamil Nadu (15,506), Kerala (9,776), and West Bengal (7,647) among the top 10.
Indian startup ecosystem is the third biggest after the US and China. Despite being only around a decade old and led by the likes of Flipkart (now acquired by Walmart), Snapdeal, Zomato, Inmobi, Freshworks, OYO etc. is home to 21 unicorns, according to the Hurun Global Unicorn List 2019. Paytm valued reportedly at around $16 billion, OYO at $10 billion, Ola worth $6 billion, Byju’s ($6 billion) etc are among the leading unicorns in India. In October this year, Prime Minister Narendra Modi during an event in Riyadh had stressed on the startup ecosystem and sought investors’ attention towards Indian startups. “I am confident of investment made in innovation in India will deliver maximum returns. And these returns will also empower the youth,” Modi had said.