The Scenario of Startups in India

Feeling lazy to go to the market? Call Dunzo (an online delivery service), (a+b)^2 seems like a mystery? BYJU’s has a solution, short on cash? Paytm Karo!!. ‘Startup’ has become the buzzword among millennials and for the right reasons. India ranks third globally in terms of its ‘startup ecosystem’ after USA and China. India is currently placed at the 57th place in the Global Innovation Index and Bengaluru ranks as the third best city in the world to open a startup. India added 1200+ startups in 2018 alone and there was more than 50% growth in the number of ‘Advanced Tech’ startups. In 2018, there was quantum jump in the number of unicorns or privately held startups that are valued at over $1 billion with 8 startups including Freshworks, OYO, Swiggy, Billdesk, Paytm Mall, Policybazaar, Udaan and Byju’s entering the unicorn club. In 2019, more startups like Practo, Big Basket and MobiKwik are expected to cross this much coveted mark. (NASSCOM & ZINNOV, 2018) This represents a paradigm shift in the Indian economy.

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