Statement | India becomes third largest startup ecosystem adding three ‘unicorns’ per month in 2021

The Hurun Research Institute’s report serves as further validation that India is among the largest startup markets in the world today. The report also sheds light on some of the environmental challenges that are holding us back from being the best startup ecosystem in the world. A lot more needs to be done, particularly on the front of deepening and democratising the investing ecosystem in our country.

While we are the third largest in terms of size, we hover around the 20’s in terms of rankings – we even slipped a few points in rankings over the last few years. A lot more needs to be done on the business environment front, particularly on deepening and democratising the investing ecosystem in our country.

A truly digital startup ecosystem that enables setting up, running and winding up of companies in a paperless, contactless governance mechanism untethered to a physical address would be pathbreaking. This would help us scale rapidly on ecosystem rankings and impact real ease of doing business.