The Next Big Leap

The Next Big Leap | 1 [ MESSAGE FROM MD’S DESK ] INDIAN START-UPS: UNLOCKING INDIA’S TRUE POTENTIAL India will remain the world’s fastest growing major economy despite the slowdown in growth as reiterated by World Bank. The Indian economy’s underlying strength stems from resilience in private consumption, investment, and the emerging start-up ecosystem. This has the potential to significantly contribute to India’s growth trajectory. The Indian start-up journey has been remarkable, with less than 500 recognised firms in 2016 increasing to around one Lac recognised firms by 2023. Indeed, India should be proud to have the third largest start-up ecosystem in the world with 108 unicorns and nearly USD 94 billion funding raised so far from these unicorns. As per Dun & Bradstreet’s research, at least 7.6 million of the currently active businesses were started within the last decade. The growth has been fuelled by factors such as a big pool of young and skilled manpower, a conducive legislative and economic environment, rising income levels, and support from incubators and accelerators. Source: Tracxn, Inc42, Dun & Bradstreet Start-ups fuel economic development and empower communities by expanding into Tier 2 and 3 cities, creating jobs and bridging the urban-rural divide. As per Dun & Bradstreet’s research, ~50% of recognised start-ups are in Tier 2 & 3 districts. Dun & Bradstr et