Our Bureau
Mumbai
India has been growing by leaps and bounds with its startup ecosystem reaching new heights. The country has far exceeded the status of a startup hub and has become a powerhouse for global innovation. The Managing Director at Peak XV, Rajan Anandan and the Managing Director and Senior Partner at BCG Alpesh Shah recently sat down in an interview to talk about India’s rising startup ecosystem.
The two managing directors were on a podcast hosted by Ranjani Raghavan called India for the World which is a leadership podcast by Mint and BCG. The two talked about various different topics including the twin-engine innovation, the growth in the manufacturing industry and how to develop companies that reach out to the whole world. Both Alpesh and Ranjan provided great insights into the growing global footprint in tech and entrepreneurship that India has.
The podcast highlighted various different stats that highlighted expansion of the country’s global startup momentum. They revealed that 40% of the startups in India that were seed-funded last year have been built for global markets from the first day.
They also talked about how India only had one space tech startup in 2014 but has now grown up so much that they have more than 220 space tech startups as of now and it is being projected that till 2030 the country will be a top 3 space power. They also stated that as of 2024 the country had 27 SaaS unicorns and it is being projected that 5 years from now in 2030, India will have 100-plus SaaS unicorns which will also include many AI-natives.
They also shed some light on India’s venture capital investments. In 2010 the investments were $1 billion and since then in 14 years it has reached $12 billion as of 2024 and it is projected that they will be nearing $30-40 billion by 2030. And it is expected that over the next two decades, India will have 20-25% of the incremental global future workforce.
