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New Delhi, India – July 16, 2023 – Union Minister of State for Electronics and Information Technology Rajeev Chandrasekhar has forecast a 10-fold surge in the number of startups in India in the next 4-5 years.
Chandrashekhar made the forecast while speaking at the JIIF 6th Foundation Day and Investors/Startup Conclave in Hyderabad. He said that the government is committed to creating an enabling environment for startups to thrive.
“We are committed to creating an ecosystem where startups can succeed,” Chandrasekhar said. “We have already taken a number of steps to make this happen, and we will continue to do so.”
Chandrashekhar also said that the government is working on a number of initiatives to promote startups in the areas of artificial intelligence, blockchain, and quantum computing.
“We are working on a number of initiatives to promote startups in the areas of AI, blockchain, and quantum computing,” Chandrasekhar said. “These are the technologies of the future, and we want India to be at the forefront of their development.”
The forecast by Chandrasekhar is in line with the growth of the Indian startup ecosystem in recent years. The number of startups in India has grown from around 5,000 in 2014 to over 60,000 in 2023. The Indian startup ecosystem is now valued at over $200 billion.
The growth of the Indian startup ecosystem is being driven by a number of factors, including the availability of capital, the growing pool of talent, and the government’s support for startups.
Chandrasekhar’s forecast is a positive sign for the Indian startup ecosystem. It suggests that the ecosystem is poised for further growth in the coming years.
