India's Thriving Startup Ecosystem: A Catalyst for Economic Growth

India's startup ecosystem is experiencing rapid growth, supported by government policies. With over 100 unicorns and 73,000 startups, the sector has become crucial for economic development and job creation. Experts highlight initiatives like the removal of Angel Tax and Digital India, which have enhanced opportunities for startups across diverse industries.

Industry experts are lauding the swift evolution of India's startup ecosystem, which now boasts over 100 unicorns and 73,000 registered startups. They credit the Modi administration for providing a stable governance framework and easing regulatory challenges, factors that have spurred increasing global investment interest in India.

Prominent voices like Sanjeev Barnwal from Meesho emphasize that this transformation has not only favored traditional metro hubs but also tier II and III cities, noting the government's scrapping of 25,000 compliances to foster business ease. With supportive measures such as Angel Tax removal and a significant government-backed fund, the vision of a $5 trillion economy seems more attainable.

Figures like Zerodha's Nikhil Kamath and OYO's Ritesh Aggarwal highlight how consistent policymaking and a problem-solving approach by leadership have resonated with Western investors and influenced societal attitudes toward entrepreneurship. Meanwhile, PolicyBazaar's Yashish Dahiya and 1mg's Prashant Tandon outline the impactful role of initiatives like Digital India, propelling the nation to hold the third-largest startup ecosystem globally.

(With inputs from agencies.)