• $150 Billion Invested by Indian startups and growth companies over the past 10 years.
• India is ranked 3rd in the world in terms of startup ecosystem scale.
• Government Support Identified as Creating a strong innovation ecosystem.

In a strong endorsement of India’s entrepreneurial spirit, Union Commerce and Industry Minister Piyush Goyal announced that Indian startups and emerging entities have secured over $150 billion in funding over the past decade. Speaking at a recent industry event, Goyal emphasized the pivotal role startups play in shaping India’s economic future and strengthening its position as a global innovation hub.

Pointing to the nation's quick transition, Goyal stated India is now firmly the third-largest startup ecosystem globally, following only behind the United States of America and China. "This great achievement is an encouraging sign of confidence that global and domestic investors have in Indian skills, tech, and grit," he added.

The minister credited the growth to not only the ingenuity of Indian businessmen but also to proactive policy initiatives of the government, which have provided a rich ecosystem for startups to flourish. Startup India, Digital India, and the major ease-of-doing-business reforms are among the key programs that have helped trigger this record growth in innovation-driven business across industries from fintech and healthtech to agritech and cleantech.

Apart from funding milestones, Goyal highlighted the increasing number of unicorns (startups with a valuation of more than $1 billion) from India. As many as over 110 unicorns are present in the country now, and this is expected to increase as investor confidence is steady despite global economic volatility.

Goyal also emphasized the growing influence of startups in Tier 3 and Tier 2 cities, asserting that "innovation is no longer relegated to metros." He invited promising entrepreneurs from every corner of the nation to leverage the changing digital infrastructure and benevolent government programs to give wings to their dreams.

With ten years of steam behind it and billions of dollars in investments pouring in, India's startup community isn't merely getting noticed it's writing the story of the future of the country's economy.